Mortgage rates bounce back on mixed housing data

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Mortgage rates bounced back this week with housing data portraying mixed signals, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgage averaged 4.29 percent with an average 0.7 point for the week ending Nov. 27, up from 4.22 percent last week and 3.32 percent a year ago.

For 15-year fixed-rate mortgages, popular with homeowners who are refinancing, rates averaged 3.3 percent with an average 0.7 point, up from 3.27 percent last week and 2.64 percent a year ago.

Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.94 percent with an average 0.5 point, down from 2.95 percent last week but up from 2.72 percent a year ago.

Rates on one-year Treasury-indexed ARMs averaged 2.6 percent with an average 0.4 point, down from 2.61 percent last week but up from 2.56 percent a year ago.

“Fixed mortgage rates retraced some of their decline of the prior week as housing data portrayed mixed signals,” said Freddie Mac Chief Economist Frank Nothaft in a statement. Source: Freddie Mac