LGIH - Mortgage rates go below 3% amid the recent bond rally

"Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week," Freddie Mac's chief economist Sam Khater commented. 30-year fixed-rate mortgage averaged 2.98% with an average 0.7 point for the week ending November 11, 2021, down from last week when it averaged 3.09%. A year ago at this time, the 30-year FRM averaged 2.84%, according to the Freddie Mac Primary Mortgage Survey. 15-year fixed-rate mortgage averaged 2.27% with an average 0.6 point, down from last week when it averaged 2.35%. A year ago at this time, the 15-year FRM averaged 2.34%. 5-year Treasury (OTCQX:TSRMF)-indexed hybrid adjustable-rate mortgage averaged 2.53% with an average 0.4 point, down from last week when it averaged 2.54%. A year ago at this time, the 5-year ARM averaged 3.11%. "These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain

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Mortgage rates go below 3% amid the recent bond rally