ABBA First Mortgage News

Rates are stable-after they rose and then they fell.

Rates stabilized this week after rising the week before, but rates were falling as the survey period ended. For the week ending November 15, Freddie Mac announced that 30-year fixed rates remained at 4.94%. The average for 15-year loans rose to 4.36% and the average for five-year adjustables was stable at 4.14%. A year ago, 30-year fixed rates averaged 3.95%, close to one percent lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac — “Despite recent market volatility, rates on home loans remained steady this week. The stability in rates reflects the moderation in inflationary pressures in the economy due to lower oil prices and subdued wage growth. On the margin, lower energy costs are a positive for the home sales market, particularly for lower-middle income suburban buyers who spend proportionately more income on transportation costs.” 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.
Current Indices for Adjustable Rate Mortgages

Updated November 16, 2018

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