Mortgage Rates Down

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(RTTNews.com) - Mortgage rates or interest rates on home loans slipped amid stock market volatility, according to mortgage provider Freddie Mac.

Releasing the results of its primary mortgage market survey, Freddie Mac said that the 30-year fixed-rate mortgage or FRM averaged 4.75 percent for the week ending December 6, 2018, down from 4.81 percent last week. A year ago at this time, the average rate was 3.94 percent.

The 15-year FRM this week averaged 4.21 percent, down from 4.25 percent last week. A year ago at this time, the 15-year FRM averaged 3.36 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage or ARM averaged 4.07 percent, down from 4.12 percent last week. It was 3.36 percent a year ago.

Sam Khater, Freddie Mac's chief economist, says, "Mortgage rates declined this week amid a steep sell-off in U.S. stocks. This week's rate reaction to the volatile stock market is a welcome relief to prospective homebuyers who have recently experienced rising rates and rising home prices."

Read the original article on RTTNews (http://www.rttnews.com/2960809/mortgage-rates-down.aspx)

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This article appears in: World Markets , Economy , 401k , Real Estate , Banking and Loans , Retirement
Referenced Symbols: FMCC

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