30-Year Mortgage Averages at or Below 4 Percent for Third Consecutive Week
November 17, 2011
Average fixed mortgage rates changed little and remained at or near 4 percent for the past three weeks amid positive economic and consumer confidence data.
According to the Freddie Mac Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4 percent with an average 0.7 point for the week ending Nov. 17, up from last week when it averaged 3.99 percent. Last year at this time, the 30-year FRM averaged 4.39 percent.
The 15-year FRM this week averaged 3.31 percent with an average 0.7 point, up from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.76 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent this week, with an average 0.6 point, down from last week when it averaged 2.98 percent. A year ago, the 5-year ARM averaged 3.40 percent.
The 1-year Treasury-indexed ARM averaged 2.98 percent this week with an average 0.6 point, up from last week when it averaged 2.95 percent. At this time last year, the 1-year ARM averaged 3.26 percent.