Little Change in Weekly Mortgage Rates
Fixed mortgage rates continued to hover at near-record lows this past week, Freddie Mac reported Nov. 8 in its weekly Primary Mortgage Market Survey.
The 30-year fixed-rate rose 0.01 percentage points to 3.40 percent (down from 3.99 percent a year ago). The 15-year fixed-rate dropped 0.01 percent to 2.70 percent (down from 3.30 percent a year ago).
The one-year adjustable-rate mortgage increased slightly this week, up 0.01 percentage point to 2.59 percent (down from 2.88 percent a year ago). The five-year Treasury-indexed adjustable-rate decreased 0.01 percent to 2.73 percent (down from 2.98 percent a year ago).
“Mortgage rates remained near record lows following the employment report for October,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a news release. “The economy added 171,000 jobs, above the market consensus forecast, and the two prior months were revised up a combined 84,000. The Labor Department also reported that the unemployment rate ticked up to 7.9 percent and that average hourly wages were unchanged.”
View Freddie Mac’s weekly Primary Mortgage Market Survey.