The Markets. Fixed rates on home loans were stable and slightly lower for the third straight week. Freddie Mac announced that for the week ending November 26, 30-year fixed rates fell to 3.97% from 3.99% the week before. The average for 15-year loans remained at 3.17%. Adjustables were also unchanged, with the average for one-year adjustables stable at 2.44% and five-year adjustables staying at 3.01%. A year ago, 30-year fixed rates were at 4.29%, which continues to be higher than today’s levels. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Fixed rates on home loans were little changed for the week, with 30-year fixed-rates declining to 3.97 percent. This comes during a week of uplifting economic news heading into the holiday; GDP growth was revised up in the third quarter from 3.5 percent to 3.9 percent, while existing homes sold at a 5.26 million unit pace in October, topping expectations of 5.15 million units.” Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Current Indices For Adjustable Rate Mortgages
Updated November 28, 2014
| Daily Value | Monthly Value | |
| Nov 26 | October | |
| 6-month Treasury Security | 0.07% | 0.05% |
| 1-year Treasury Security | 0.14% | 0.10% |
| 3-year Treasury Security | 0.93% | 0.88% |
| 5-year Treasury Security | 1.56% | 1.55% |
| 10-year Treasury Security | 2.24% | 2.30% |
| 12-month LIBOR | 0.552% (Oct) | |
| 12-month MTA | 0.113% (Oct) | |
| 11th District Cost of Funds | 0.663% (Sept) | |
| Prime Rate | 3.25% |
Comments