Freddie Mac: Mortgage Rates Remain Steady

Nov 22, 2017

Mortgage rates recorded mixed results in the latest Primary Mortgage Market Survey (PMMS) released by Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 3.92 percent for the week ending Nov. 22, down from last week when it averaged 3.95 percent. A year ago at this time, the 30-year FRM averaged 4.03 percent.

However, the 15-year FRM this week averaged 3.32 percent, up from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 3.25 percent.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22 percent this week, up from last week when it averaged 3.21 percent. A year ago at this time, the five-year ARM averaged 3.12 percent.

“Rates dipped slightly in a short week leading up to the Thanksgiving holiday,” said Sean Becketti, Chief Economist at Freddie Mac. “The 10-year Treasury yield fell roughly four basis points, while the 30-year mortgage rate dropped three basis points to 3.92 percent. Mortgage rates continue to remain low.”

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Phil Hall

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Nov 22, 2017

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