• Home
  • /
  • Mortgage rates see little change
Mortgage rates see little change
  • Dec 11, 2015
  • New Home Ambassador
  • mortgage rates lower interest rates home mortgage

According to Freddie Mac's Primary Mortgage Market Survey, interest rates for U.S. home mortgages declined slightly or saw little change for the week ending Nov. 25

According to Freddie Mac's Primary Mortgage Market Survey, interest rates for U.S. home mortgages declined slightly or saw little change for the week ending Nov. 25. 

"In a quiet week leading up to the Thanksgiving holiday, the 30-year mortgage rate dipped 2 basis points to 3.95 percent," said Sean Becketti, Freddie Mac's chief economist. "Economic releases over the last week contained no major surprises, and none are expected in the next few days. The year is winding down, and the only remaining market dates of note are December 4 - the last employment report of the year - and December 15-16, the long-awaited FOMC meeting."

The Federal Open Market Committee's upcoming meeting will determine whether a rate hike will occur. 

Freddie reports easing mortgage rates. The survey indicated the average 30-year fixed-rate mortgage settled at 3.95%, which is slightly down from the previous week's rate of 3.97%. A year ago interest rates averaged 3.17%.

While 30-year FRMs decreased, the average 15-year FRM remained unchanged at 3.18% when compared on a week-over-week basis, and the rate showed a small increase from 3.17% when compared on a year-over-year basis.

The average 1-year Treasury-indexed adjustable-rate mortgage settled at 2.59% which was slightly down from last week's average of 2.64%. A year ago at this time the average interest was 2.44%.

The benchmark 5-year Treasury-indexed hybrid ARM increased slightly from 2.98% the previous week to 3.01% the week ending Nov. 25. This week's average matches the rate seen a year ago at this time.

Bankrate reported lower interest rates. According to Bankrate's analysis of mortgage rates, 30-year FRMs decreased to 4.07% the week ending Nov. 24. The previous week's average settled at 4.09%.

The average 15-year FRM also decreased from 3.31% to 3.29%.

While rates are low, a rate hike is still expected, which will likely encourage more interested homebuyers to invest in real estate.

"Realtors have reported that there are lots of 'lookers' and fewer 'buyers,'" Joel Naroff, president and chief economist at Naroff Economic Advisors noted in a blog post, according to Bankrate. "That should change when mortgage rates start rising."

The housing market continues to show improvement, and more buyers entering the market will continue to bolster the industry.


Free Evaluation

We are passionate about creating innovative technology that deepens the connection between people and the things they care about most – their homes, families and businesses. Millions of people trust Alarm.com every day for better security, advanced automation and dependable service.

Mohawk Flooring

As the world's largest flooring company, Mohawk provides unlimited style and design options from over 30 flooring categories. The extensive Mohawk family of brands covers every floor type— carpet, rugs, tile, hardwood, laminate and more— and includes highly reputable names trusted by millions

Sherwin Williams

When is red not just red? When it's Cherry Tomato, Fireworks or Habanero Chile. Browse the nine color families below and see how with over 1,500 Sherwin-Williams colors, there's something for every mood, every space and every project.

Solar City

SolarCity was started by two determined brothers with a better way to deliver clean, more affordable energy. Founded in 2006, SolarCity has since grown to become America’s largest solar provider with more than 10,000 employees. We’re just getting started.