Mortgage Rates Fall into Record-Breaking Territory
Mortgage Rates Fall into Record-Breaking Territory
Mortgage Rates Fall into Record-Breaking Territory
Mortgage Rates Fall to new all-time lows this week, pushing homebuyer affordability even higher for those who can qualify.
“The Fixed Mortgage Rates Fall to record lows on indicators of higher consumer confidence and wholesale prices,” Frank Nothaft, Freddie Mac’s chief economist says.
The following are the national averages of the Mortgage Rates Fall as reported by Freddie Mac for the week ending Nov. 15:
- 30-year fixed-rate mortgages: averaged a new low of 3.34 percent, with an average 0.7 point. The previous record low was 3.36 percent, set the week of Oct. 4. A year ago, 30-year rates averaged 4 percent.
- 15-year fixed-rate mortgages: averaged a new low of 2.65 percent, with an average 0.7 point. Its previous record low was 2.66 percent, set during the week ending Oct. 18. A year ago, 15-year rates averaged 3.31 percent.
- 5-year adjustable-rate mortgages: averaged 2.74 percent, with an average 0.6 point, rising slightly from last week’s 2.73 percent average. Last year at this time, 5-year ARMs averaged 2.97 percent.
- 1-year ARMs: averaged 2.55 percent, with an average 0.3 point, dropping from last week’s 2.59 percent average. A year ago, 1-year ARMs averaged 2.98 percent.
Source: Freddie Mac
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