ABBA First Mortgage News

Another week where rates remained stable

Rates were flat in the past week, with the markets on hold before the jobs report and Federal Reserve releases.  For the week ending November 2, Freddie Mac announced that 30-year fixed rates remained at 3.94%.  The average for 15-year loans rose two ticks to 3.27%.  The average for five-year adjustables also increased two ticks to 3.23%.  A year ago, 30-year fixed rates averaged 3.54%.  Attributed to Sean Becketti, chief economist, Freddie Mac — “Following a strong surge last week, rates held relatively flat this week. The rate on 30-year loans remained unchanged at 3.94 percent, while the 10-year Treasury yield dipped roughly 4 basis points. The markets’ reaction to the upcoming announcement of the next Fed chair may impact the movement of rates in next week’s survey.”

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

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