For the second consecutive week, average fixed-rate mortgages inched higher, taking the 30-year fixed-rate mortgage back above 4 percent for the first time in three weeks, Freddie Mac reports in its weekly mortgage market survey.
Freddie Mac reports the national averages for the week ending Nov. 6:
- 30-year fixed-rate mortgages: averaged 4.02 percent, with an average 0.5 point, rising from last week’s 3.98 percent average. Last year at this time, 30-year rates averaged 4.16 percent.
- 15-year fixed-rate mortgages: averaged 3.21 percent, with an average 0.5 point, rising from last week’s 3.13 percent average. A year ago, 15-year rates averaged 3.27 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.97 percent, with an average 0.5 point, increasing from last week’s 2.94 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.
Source: Freddie Mac