Mortgage Rates Fall Back

Condo building in downtown Hollywood
Condo building in downtown Hollywood, FL

Freddie Mac just released it’s weekly Primary Mortgage Market Survey, and it shows U.S weekly average mortgage rates as of  November 1st, 2018.

Freddie Mac.Primary Mortgage Survey Rates as of 11_1_2018

This survey shows how U.S weekly average mortgage rates change during the week.

This week’s, November 1st, 2018, survey shows, that 30-year fixed rate mortage went down by 3 points since the last week’s survey and now it is at 4.83 percent. It increased by 89 points since the last year Noveber  2nd, 2017 rate of 3.94 percent.

The 15-year fixed-rate mortgage went down by 6 points in one week and it is at 4.23 percent now, when last week was 4.29 percent. The 15-year fixed rate mortgage for the year increased by 96 points, when it was on November 2nd,2017 it was 3.27 percent.

Freddie Mac. Primary Mortgage Market Survey. Mortgages Rates as of 11_1_2018

When we look at the graph above, whitch shows the change in weekly mortgage rate during the last 5 years, we are still at the high point. The highest the rate went up during the last five years was for the week of October 11th, 2018. The 30-year fixed rate mortage was  4.90 percent, and 15-year fixed-rate mortgage was 4.29 percent.