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HSH.com Mortgage Rates Radar: Your first report on the mortgage market this week

Mortgage rate moves muted, mixed


Rates on the most popular types of mortgages moved slightly in different directions this week, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by two basis points (0.02 percent) to 3.93 percent. Conforming 5/1 Hybrid ARM rates increased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.12 percent.

It's the holiday season, so mortgage rates aren't moving much

"Ongoing good news about the economy will eventually lift rates somewhat, but probably not until the calendar turns," said Keith Gumbinger, vice president of HSH.com. "There's not a lot of seasonality for mortgage rates, but slack demand for mortgage credit this time of year certainly helps to keep some downward pressure on them."

There was apparently slack demand for mortgages in November, as well. The National Association of Realtors reported that sales of existing homes declined by 6.1 percent during the month, with sales sliding to their lowest annualized pace since May 2014. Sales of new homes were softer last month, too, easing by 1.6 percent to a 438,000 annual rate.

Rates are only one important element of getting a home

"Buying a home isn't only about getting a great mortgage rate," adds Gumbinger. "You need to find a house you like, in a location that suits you and at a price you are willing to pay. This isn't always an easy task, and thin inventories of homes for sale at higher prices than last year may be giving some buyers pause. Of course, we're also out of the traditional homebuying season, and the recent softness in sales and lack of desirable homes to buy is likely to start to change as we move into 2015."

Average mortgage rates and points for conforming residential mortgages for the week ending December 16, according to HSH.com:

HSH.com Mortgage Rates Radar - Four Week Trend

Conforming 30-year fixed-rate mortgage

  • Average Rate:   3.93 percent
  • Average Points: 0.14

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate:   3.12 percent
  • Average Points: 0.09

Average mortgage rates and points for conforming residential mortgages for the previous week ending December 9 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

  • Average Rate:   3.95 percent
  • Average Points: 0.15

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate:   3.10 percent
  • Average Points: 0.11


The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.comís survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radarís inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.


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