Skip to main content Rates Head Back Downward Toward Four Percent Mark

Nov 19, 2014

Rates on the most popular mortgages types declined somewhat, according to's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by three basis points (0.03 percent) to 4.07 percent. Conforming 5/1 Hybrid ARM rates also decreased by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.10 percent.

"At the moment, there's not much traction for mortgage rates to move one way or the other," said Keith Gumbinger, vice president of "Financial markets have become pretty quiet, so rates are drifting in the direction with least resistance, which just happens to be down."

Mortgage rates remain very close to 2014 lows—reached just a few weeks ago—the lowest rates in about 16 months. A year ago this week, the average conforming 30-year FRM stood about a third of a percentage point above today's level. Many forecasts for 2014 as a whole called for firming rates approaching the five percent level by about this time, but rates have mostly eased, instead.

"With just six weeks left to go in 2014, it would be a stretch to see rates get to the 4.5 percent mark, let alone five," said Gumbinger. "With holidays getting ready to kick in, demand for mortgage credit is more likely to wane in the coming weeks than not, and we might not even make it to 4.25 percent, a level last seen in September. In the coming weeks, mortgage rates and mortgage market activity will probably be more like making barbecue—low and slow."

Average mortgage rates and points for conforming residential mortgages for the week ending Nov. 18, according to

Conforming 30-year fixed-rate mortgage
Average rate: 4.07 percent
Average points: 0.17

Conforming 5/1-year adjustable-rate mortgage
Average rate: 3.10 percent
Average points: 0.09

Average mortgage rates and points for conforming residential mortgages for the previous week ending Nov. 11 were, according to

Conforming 30-year fixed-rate mortgage
►Average rate:
4.10 percent
Average points: 0.21

Conforming 5/1-year adjustable-rate mortgage
►Average rate:
 3.13 percent
Average points: 0.10

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