Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.98 percent.
“Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.”
•30-year fixed-rate mortgage averaged 2.98 percent with an average 0.7 point for the week ending November 10, 2021, down from last week when it averaged 3.09 percent. A year ago at this time, the 30-year FRM averaged 2.84 percent.
•15-year fixed-rate mortgage averaged 2.27 percent with an average 0.6 point, down from last week when it averaged 2.35 percent. A year ago at this time, the 15-year FRM averaged 2.34 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.53 percent with an average 0.4 point, down slightly from last week when it averaged 2.54 percent. A year ago at this time, the 5-year ARM averaged 3.11 percent.
If you'd like more information on daily mortgage rate movements, check with your mortgage lender or with mortgage rate information providers such as Mortgage News Daily.