Mortgage Rates Up only Slightly from 2014 Lows









Mortgage rates stayed near their 2014 lows despite rising slightly, according to the Freddie Mac Primary Mortgage Market Survey released Wednesday.

The interest rate rises came following a week of mixed economic releases, Freddie Macs vice president and chief economist Frank Nothaft said in a press release. Existing home sales were down 6.1% in November to annual rate of 4.93 million units, below economists’ expectations.New home sales fell 1.6% last month to an annual rate of 438,000, also below expectations.

The average rate for the conforming 30-year fixed-rate mortgage was 3.83%, up slightly from the week before, when rates were three basis points lower, but down 61 basis points in year-over-year comparison.

Meanwhile, 15-year fixed rates were averaged 3.1%, up one basis point from the week before and 42 basis points below the its rate the same time last year.

For the adjustable rate products tracked by Freddie Mac, the 5-year Treasury-indexed hybrid loan averaged 3.01% for the week, up six basis points from the week before, while the1-year Treasury-indexed mortgage averaged 2.39%, up one basis point from the week before.

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