| The Federal Home Loan Mortgage Corp. (Freddie Mac) announced the average 30-year fixed mortgage rate dropping slightly after last week’s jump today.
Highlights from the Primary Mortgage Market Survey:
- 30-year fixed-rate mortgage (FRM) averaged 3.92 percent with an average 0.5 point for the week ending Nov. 22, 2017, down from last week when it averaged 3.95 percent. A year ago at this time, the 30-year FRM averaged 4.03 percent.
- 15-year FRM this week averaged 3.32 percent with an average 0.4 point, up from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 3.25 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22 percent this week with an average 0.4 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 5-year ARM averaged 3.12 percent.
“Rates dipped slightly in a short week leading up to the Thanksgiving holiday. The 10-year Treasury yield fell roughly 4 basis points, while the 30-year mortgage rate dropped 3 basis points to 3.92 percent. Mortgage rates continue to remain low,” Sean Becketti, Freddie Mac chief economist, said in a statement.
