Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.09 percent.
“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. “That said, the housing market remains favorable for consumers, as rates remain below pre-pandemic levels and continue to support sustainable purchase and refinance opportunities."
•30-year fixed-rate mortgage averaged 3.09 percent with an average 0.7 point for the week ending November 4, 2021, down from last week when it averaged 3.14 percent. A year ago at this time, the 30-year FRM averaged 2.78 percent.
•15-year fixed-rate mortgage averaged 2.35 percent with an average 0.6 point, down from last week when it averaged 2.37 percent. A year ago at this time, the 15-year FRM averaged 2.32 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.54 percent with an average 0.3 point, down from last week when it averaged 2.56 percent. A year ago at this time, the 5-year ARM averaged 2.89 percent.
For more information on daily mortgage interest rate movements, contact your mortgage lender or visit mortgage information providers such as Mortgage News Daily.