30-Year Fixed-Rate Mortgage Averages 3.99 Percent
November 10, 2011
Average mortgage rates changed little from the previous week amid a mix of economic data reports as the 30-year fixed-rate mortgage averaged 3.99 percent, dropping below 4 percent for the second time this year, according to Freddie Mac’s Primary Mortgage Market Survey.
The 30-year fixed-rate mortgage (FRM) averaged 3.99 percent with an average 0.7 point for the week ending Nov. 10, down from last week when it averaged 4 percent. Last year at this time, the 30-year FRM averaged 4.17 percent.
Meanwhile, the 15-year FRM this week averaged 3.3 percent with an average 0.8 point, down from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 3.57 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week, with an average 0.6 point, up from last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 3.25 percent.
The 1-year Treasury-indexed ARM averaged 2.95 percent this week with an average 0.6 point, up from last week when it averaged 2.88 percent. At this time last year, the 1-year ARM averaged 3.26 percent.