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

Mortgage rates nearly stable this week

 

Rates on the most popular types of mortgages hardly changed this week, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by a single basis point (0.01 percent) to 4.06 percent. Conforming 5/1 Hybrid ARM rates increased by one basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.11 percent.

Mortgage rates level due to steady markets

"Absent any significant news to move them around, markets are holding pretty steady at the moment, keeping mortgage rates level," said Keith Gumbinger, vice president of HSH.com. "If anything might move them, the effect of declining oil prices on potential inflation would tend to press them a little lower, but even then, any move would be small."

While the U.S. economy ran at a 3.9 percent clip in the third quarter of 2014, major economies around the globe are sluggish, helping to keep U.S. interest rates low. It is likely that growth in the U.S. is running a little bit slower in the fourth quarter; as a result, there is currently more downward force for rates than upward pressure.

Great deals expected for mortgage rates this year

"Moderate economic growth in the U.S., minimal inflation and few profitable places for investors to park their funds are all helping American mortgage borrowers obtain fantastic rates," added Gumbinger. "Along with everything from tablets to televisions, it looks as though "Black Friday" will include some great mortgage deals for shoppers this year."

Average mortgage rates and points for conforming residential mortgages for the week ending November 25, according to HSH.com:

HSH.com Mortgage Rates Radar - Four Week Trend

Conforming 30-year fixed-rate mortgage

  • Average Rate:   4.06 percent
  • Average Points: 0.13

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate:   3.11 percent
  • Average Points: 0.08

Average mortgage rates and points for conforming residential mortgages for the previous week ending November 18 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

  • Average Rate:   4.07 percent
  • Average Points: 0.17

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate:   3.10 percent
  • Average Points: 0.09

Methodology

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.com’s 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 Radar’s 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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