Mortgage Rates Increase Slightly
MCLEAN, Va., Nov. 27, 2019 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.68 percent, increasing slightly since last week.
“Following a decline in the first nine months of 2019, mortgage rates have traded narrower during the last two months with a modest drift upward due to an improved economic outlook,” said Sam Khater, Freddie Mac’s Chief Economist. “While there has been a lag in the housing market’s response to lower rates, real estate volumes have clearly shifted into a higher gear. Moreover, the recent improvement in the cyclical segments of the economy and easing financial conditions will provide a gentle tailwind to the real estate market rebound over the next few months.”
News Facts
- averaged 3.68 percent with an average 0.5 point for the week ending November 27, 2019, up slightly from last week when it averaged 3.66 percent. A year ago at this time, the 30-year FRM averaged 4.81 percent.
- averaged 3.15 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 4.25 percent.
- (ARM) averaged 3.43 percent with an average 0.3 point, up from last week when it averaged 3.39 percent. A year ago at this time, the 5-year ARM averaged 4.12 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the . Borrowers may still pay closing costs which are not included in the survey.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at , Twitter and Freddie Mac’s blog .
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A photo accompanying this announcement is available at
