FMCC - Mortgage rates fall but future upticks expected

“While mortgage rates fell after several weeks on the rise, we expect future upticks due to stronger economic data and as the Federal Reserve pulls back on its stimulus,” said Sam Khater, Freddie Mac’s Chief Economist. 30-year fixed-rate mortgage averaged 3.09% with an average 0.7 point for the week ending November 4, 2021, down from last week when it averaged 3.14%. A year ago at this time, the 30-year FRM averaged 2.78%, according to the Freddie Mac Primary Mortgage Survey. 15-year fixed-rate mortgage averaged 2.35% with an average 0.6 point, down from last week when it averaged 2.37%. A year ago at this time, the 15-year FRM averaged 2.32%. 5-year Treasury (TSRMF)-indexed hybrid adjustable-rate mortgage averaged 2.54% with an average 0.3 point, down from last week when it averaged 2.56%. A year ago at this time, the 5-year ARM averaged 2.89%. “That said, the housing market remains favorable for consumers,

For further details see:

Mortgage rates fall but future upticks expected