Mortgage interest rates nationally declined slightly for the week ending November 30, 2017, Freddie Mac reported.
The 30-year, fixed rate mortgage loan averaged 3.90, with an average 0.5 point, a slight decrease from 3.92 percent the previous week. A year ago the 30-year note average 4.08 percent.
"The 30-year, fixed mortgage rate fell two basis points to 3.9 percent in this week's survey, but we closed our survey prior to a surge in long-term interest rates following an upward revision to third quarter U.S. Real GDP growth and comments by Federal Reserve Chair Yellen touting a broad-based economic expansion," Len Kiefer, Freddie Mac deputy chief economist, said. "The market-implied probability of a Fed rate hike in December neared 100 percent, helping to drive short-term interest rates higher."
The 15-year, fixed rate mortgage loan averaged 3.30 percent, with an average 0.5 percent, compared to 3.32 percent the previous week and 3.34 percent the previous year.
The five-year, adjustable-rate mortgage (ARM) increased to 3.32 percent, with an average 0.3 point. The 5-year ARM averaged 3.12 percent the previous week and 3.15 percent the previous year.