PKB - Mortgage rates continue to hit new lows

30-year fixed rate mortgage averages 2.72% for the week ending Nov. 19, 2020, its lowest level in the Freddie Mac Primary Mortgage Market Survey's history dating back to 1971.Compares with 2.84% in prior week and 3.66% at this time a year ago."Weaker consumer spending data, which accounts for the majority of economic growth, drove mortgage rates to a new record low," said Sam Khater, Freddie Mac’s chief economist. "While economic growth remains unstable, strong housing demand continues to have a domino effect on many other segments of the economy."15-year FRM averages 2.28% vs. 2.34% a week earlier and 3.15% a year ago.5-year Treasury-indexed hybrid adjustable rate mortgage averages 2.85% vs. 3.11% in prior week and 3.39% a year ago.Mortgage-related ETFs: [[REM]],[[MORT]], [[DMO]], [[PGZ]], [[TSI]], [[JLS]], [[CMBS]], [[FMY]], [[LMBS]], [[JMBS]], [[MBSD]], [[LGOV]], [[GSST]], [[MTGP]]Homebuilder ETFs: [[ITB]], [[XHB]], [[NAIL]], [[HOMZ]], [[PKB]]

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Mortgage rates continue to hit new lows