Mortgage rates fell slightly
The government-sponsored enterprise said in a press release that rates for 30-year, fixed-rate mortgages dipped one basis point, to 4.01%. Average rates for 15-year mortgages also dropped by a single point, to 3.2%.
Five-year, adjustable-rate mortgages increased 5 basis points, to 3.02%. Rates on one-year treasury-indexed mortgages fell 2 basis points, to 2.43%.
"Fixed mortgage rates were slightly down on mixed results from October's employment report," said Frank Nothaft, Freddie Mac's chief economist. "While the unemployment rate declined to 5.8%, nonfarm employment rose by 214,000 jobs, which was below consensus expectations."
