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Mortgage Rates Rise Slightly During Holiday Week

Freddie Mac released its weekly report on mortgage rates on Wednesday, showing a stabilization of the rates in the week ending November 24th, after climbing drastically the week before.

The report showed the average for a 30 year fixed-rate mortgage at 4.4 percent, up slightly from the prior week's 4.39 percent, and still well below the 4.78 percent average from a year ago. The average for a 15 year fixed-rate, meanwhile, was reported as 3.77 percent, also slightly up from last week's 3.76 percent. The fifteen year averaged 4.29 percent in the same week of 2009.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.45% this week, up from 3.4% last week. The ARM averaged 4.18% a year ago. But rates on 1-year Treasury-indexed ARMs fell, averaging 3.23%, compared with 3.26% last week. The ARM averaged 4.35% a year ago.

Freddie Mac released the weekly mortgage rate report a day early this week because of the Thanksgiving Day holiday, and rates were little changed as a result.

November 24, 2010

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