Home Loan Rates Move to Higher Averages

Fixed-rate mortgages headed up this week, reaching their highest averages since early summer.

Freddie Mac reports the following national averages for the week ending Nov. 3:

30-year fixed-rate mortgages: averaged 3.54 percent, with an average 0.5 point, rising from last week’s 3.47 percent average. Last year at this time, 30-year rates averaged 3.87 percent.
15-year fixed-rate mortgages: averaged 2.84 percent, with an average 0.5 point, rising from last week’s 2.78 percent average. A year ago, 15-year rates averaged 3.09 percent.

Source: Freddie Mac