- 30-year fixed-rate mortgage slips 12 basis points to an average of 4.63% for the week ending Dec. 13, its lowest rate in three months, according to the Freddie Mac Primary Mortgage Survey.
- In the previous week, the average was 4.75% and a year ago it was at 3.93%.
- "While the housing market softened in response to higher rates through most of this year, the combination of a low unemployment and recent downdraft in rates should support home sales heading into the early winter months," says Freddie Mac Chief Economist Sam Khater.
- 15-year FRM averaged 4.07%, down from 4.21% in the previous week; compares with 3.36% a year ago.
- 5-year Treasury-indexed hybrid adjustable rate mortgage averaged 4.04%, down 3 basis points from 4.07% a week earlier; a year ago, it was at 3.36%.
- Previously: Mortgage lender profit outlook falls for nine straight quarters: Fannie Mae (Dec. 12)
- Related tickers: DHI, KBH, PHM, NVR, TOL, LEN
- ETFs: MORL, REM, MORT, DMO, TSI, PGZ, JLS, CMBS, FMY, JMT, LMBS, MBSD
- Now read: The Federal Reserve Holds The Key To The Outlook For The 2x Leveraged Mortgage REIT ETNs
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