Mortgage Rates at Highest Averages of 2016

As we expected, for the fifth consecutive week, average fixed mortgage rates edged higher. The 30-year fixed-rate mortgage is now averaging above 4 percent.

Freddie Mac reports the following national averages for the week ending Dec. 1:

  • 30-year fixed-rate mortgages: averaged 4.08 percent, with an average 0.5 point, rising from last week’s 4.03 percent average. Last year at this time, 30-year rates averaged 3.93 percent.
  • 15-year fixed-rate mortgages: averaged 3.34 percent, with an average 0.5 point, increasing from last week’s 3.25 percent average. A year ago, 15-year rates averaged 3.16 percent.

Source: Freddie Mac