Freddie Mac, the Mortgage Brokers Association (MBA) and HSH Market Trends reported little movement in mortgage interest rates in their most recent surveys.
In their survey on November 26th, Freddie Mac reported that 30-year fixed-rate mortgages decreased from 3.99% to 3.97%. They also noted that last year at this time the 30-year rate was 4.29%.
The Mortgage Bankers Association (MBA) reported on November 26th (for the week ending November 21st) that 30-year rates with conforming loan balances ($417,500 or less) declined to 4.15% from 4.18%. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) remained unchanged at 4.10% while rates for FHA backed mortgages increased, from 3.85% to 3.90%.
On November 26th, HSH Market Trends reported that 30-year mortgage rates dropped to 4.07% from 4.09% the previous week. Rates for FHA-backed mortgages were unchanged for the second consecutive week at 3.78%.
Additional information from Freddie Mac can be found by going to: Primary Mortgage Market Survey PMMS - Freddie Mac
Additional information from the Mortgage Bankers Association can be found by going to their site at: Research and Forecasts - Mortgage Bankers Association
Additional information from HSH can be found by going to: HSH.Com
For all your Residential and Commercial Real Estate Appraisal needs please contact: James M. Hanson Associates, Inc. Phone: (609) 884-9185 Email: Info@AppraiseNewJersey.com