Real Estate Mortgage Rates Make Modest Shift This Week
MCLEAN, Va. — Freddie Mac Wednesday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.68 percent, increasing slightly since last week.
“Following a decline in the first nine months of 2019, mortgage rates have traded narrower during the last two months with a modest drift upward due to an improved economic outlook,” said Sam Khater, Freddie Mac’s Chief Economist. “While there has been a lag in the housing market’s response to lower rates, real estate volumes have clearly shifted into a higher gear. Moreover, the recent improvement in the cyclical segments of the economy and easing financial conditions will provide a gentle tailwind to the real estate market rebound over the next few months.”
News Facts
- 30-year fixed-rate mortgage averaged 3.68 percent with an average 0.5 point for the week ending November 27, 2019, up slightly from last week when it averaged 3.66 percent. A year ago at this time, the 30-year FRM averaged 4.81 percent.
- 15-year fixed-rate mortgage averaged 3.15 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 4.25 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.43 percent with an average 0.3 point, up from last week when it averaged 3.39 percent. A year ago at this time, the 5-year ARM averaged 4.12 percent.
