Thirty-Year Sets Record Low for Second Consecutive Week
The average 30-year mortgage rate set another record as it slid three basis points to 3.31% in Freddie Mac’s latest weekly survey.
The average 15-year rate during the week ending Nov. 21 also set another record low at 2.63%, down from 2.65% the previous week.
Shorter-term rates remained more mixed, with the average rate for a Treasury-indexed five-year hybrid holding steady at 2.74% and the average rate for a one-year Treasury-indexed adjustable-rate mortgage rising one basis point to 2.56%.
Points were on average 0.5 of a point for one-year Treasury ARMs during the most recent week and 0.6 of a point for five-year Treasury hybrids. Thirty- and 15-year fixed rate mortgages averaged 0.7 of point.
Average weekly rates in the survey a year ago were as follows: 3.98% for 30-year loans, 3.3% for 15-year mortgages, 2.91% for five-year Treasury hybrids, and 2.79% for one-year Treasury ARMs.