November 29th, 2018 7:28 AM by Jackie A. Graves
Mortgage rates mostly held
stable this week, a welcome relief to home buyers.
“Despite recent market
volatility, mortgage rates remained steady this week,” says Sam Khater, Freddie
Mac’s chief economist. “The stability in mortgage rates reflects the moderation
in inflationary pressures in the economy due to the lower oil prices and
subdued wage growth. On the margin, lower energy costs are a positive for the
home sales market, particularly for lower-middle income suburban buyers who
spend proportionately more income on transportation costs.”
Freddie Mac reports the
following national averages with mortgage rates for the week ending Nov. 15:
mortgages: averaged 4.94 percent, with an average 0.5 point,
unchanged from last week’s average. Last year at this time, 30-year rates
averaged 3.95 percent.
mortgages: averaged 4.36 percent, with an average 0.4 point, increasing
slightly from last week’s 4.33 percent average. A year ago, 15-year rates
averaged 3.31 percent.
adjustable-rate mortgages: averaged 4.14 percent with an
average 0.3 point, unchanged from last week. A year ago, 5-year ARMs averaged
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