“Mortgage rates jumped this week as a result of positive news about a COVID-19 vaccine,” said
News Facts
- 30-year fixed-rate mortgage averaged 2.84 percent with an average 0.7 point for the week ending
November 12, 2020 , up from last week when it averaged 2.78 percent. A year ago at this time, the 30-year FRM averaged 3.75 percent. - 15-year fixed-rate mortgage averaged 2.34 percent with an average 0.6 point, up from last week when it averaged 2.32. A year ago at this time, the 15-year FRM averaged 3.20 percent.
- 5-year
Treasury -indexed hybrid adjustable-rate mortgage (ARM) averaged 3.11 percent with an average 0.4 point, up from last week when it averaged 2.89 percent. A year ago at this time, the 5-year ARM averaged 3.44 percent.
The PMMS is focused on conventional, conforming, fully-amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
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Angela_Waugaman@FreddieMac.com
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Source:
2020 GlobeNewswire, Inc., source