Mortgage rates stayed in the basement this week, as mortgage-backed securities that fund the vast majority of home loans continued to look like a safe bet to investors.Rates on 30-year fixed-rate mortgages averaged 3.39 percent with an average 0.7 point for the week ending Nov. 1, down from 3.41 percent last week and 4.00 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. Rates for 30-year fixed-rate loans hit an all-time low in Freddie Mac records dating to 1971 of 3.36 percent during the week ending Oct. 4.For 15-year fixed-rate loans, rates averaged 2.70 percent with an average 0.7 point, down from 2.72 percent last week and 3.31 percent a year ago. Rates for 15-year fixed-rate loans reached an all-time low in Freddie Mac records ...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.