“After holding steady last week, rates dipped slightly this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield fell roughly 7 basis points, while the 30-year mortgage rate dropped 4 basis points to 3.90 percent.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 9:
- 30-year fixed-rate mortgages: averaged 3.90 percent, with an average 0.4 point, dropping from last week’s 3.94 percent. Last year at this time, 30-year rates averaged 3.57 percent.
- 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.5 point, falling from last week’s 3.27 percent average. A year ago, 15-year rates averaged 2.88 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.22 percent, with an average 0.5 point, dropping from last week’s 3.23 percent average. A year ago, 5-year ARMs averaged 2.88 percent.
Source: Freddie Mac
