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Mortgage Rates Radar: Mortgage rates pretty flat this week

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Rates on the most popular types of mortgages were almost level according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by two basis points (0.02 percent) to 4.38 percent. Conforming 5/1 Hybrid ARM rates decreased by one basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.08 percent.

Economic news still mixed

"After a few weeks of volatility, bond and mortgage markets seem to have settled somewhat, just in time for the beginning of the holiday season," said Keith Gumbinger, vice president of HSH.com. "Of late, the economic news continues to be mixed, any action by the Federal Reserve is on hold for the moment, and confirmation hearings for Janet Yellen have concluded, although a full Senate vote is still pending. As such, we're in a bit of a lull, which is actually a good thing."

Markets may become more restive when we pass the Thanksgiving holiday, as the Senate vote to confirm Ms. Yellen is expected, and December kicks off with a week packed with fresh data about the economy, including some data delayed from the government shutdown plus the all-important employment report for November.

"It's nice that markets have calmed, at least for a moment," adds Gumbinger. "The recent wavy pattern of ups and downs for rates is to be expected, since it's rather unclear which direction we're headed in at any given moment. Still, that can be uncomfortable at times for folks who are involved in a home purchase or refinance transaction."

Current mortgage rates

Average mortgage rates and points for conforming residential mortgages for the week ending November 26, according to HSH.com:

Conforming 30-year fixed-rate mortgage
-Average rate:   4.38 percent
-Average points: 0.17

Conforming 5/1-year adjustable-rate mortgage
-Average rate:   3.08 percent
-Average points: 0.12

Average mortgage rates and points for conforming residential mortgages for the previous week ending November 19 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage
-Average Rate:   4.36 percent
-Average Points: 0.17

Conforming 5/1-year adjustable-rate mortgage
-Average Rate:   3.09 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.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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