Mortgage Rates Remain Low

An improving economy and increasing home sales are keeping mortage rates low. Rates for the both 30-year and 15-year fixed-rate mortgages remain below 4 percent, virtually unchanged at near-historic lows. Freddie Mac’s Nov. 26 Primary Mortgage Market Survey showed that the 30-year fixed-rate mortgage stood at 3.97 percent, down just 2 basis points from Nov 19. In the last week of November 2013, this bellwether rate averaged 4.29
percent.

The 15-year fixed-rate mortgage is unchanged from the Nov. 19 rate of 3.17 percent. A year ago at this time, a 15-year fixed mortgage averaged 3.30 percent.