Freddie Mac's (OTCQB: FMCC) Primary Mortgage Market Survey®, out Thursday, reports that mortgage rates moderated after increasing last week.
Sam Khater, Freddie Mac’s chief economist, said, “Despite recent market volatility, mortgage rates remained steady this week. The stability in mortgage 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.”
News Facts:
- 30-year fixed-rate mortgage (FRM) averaged 4.94 % with an average 0.5 point for the week ending November 15, 2018, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.95%.
- 15-year FRM this week averaged 4.36% with an average 0.4 point, up from last week when it averaged 4.33%. A year ago at this time, the 15-year FRM averaged 3.31%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.14% with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.21%.
