Mortgage rates slide the fastest in four years, but it may be too late for the housing market
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Rates for home loans tumbled as turmoil rocked global financial markets, but any reprieve in rates may come too late for would-be home buyers or refinancers.
The 30-year fixed-rate mortgage averaged 4.81% in the November 21 week, down 13 basis points, mortgage liquidity provider Freddie Mac said Wednesday. That’s the biggest weekly decline since January 2015 and the lowest level for the popular product since early October. The 15-year fixed-rate mortgage averaged 4.24%, down 12 basis points during the week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.09%, down from 4.15%.
The article is written by Andrea Riquier for MarketWatch. You can read the full article here.
Sheila Abai is a senior mortgage consultant. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at sheilaabai10@gmail.com or via telephone at (310) 666-6601.
