Rates on both fixed-rate and adjustable-rate mortgages retreated this week from a recent surge, but lenders continue to tighten standards as a pullback in consumer spending and weaker job market provides new indications of a slowing economy.

Rates for 30-year fixed-rate mortgages (FRM) averaged 6.20 percent with an average 0.7 point or the week ending Nov. 6, down from 6.46 percent last week and 6.24 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top