logo
  

Mortgage Rates Inch Up Slightly

Mortgage rates, or interest rates on home loans, inched up slightly from last week, according to mortgage provider Freddie Mac (FMCC.OB).

Releasing the results of its primary mortgage market survey, Freddie Mac said that the 30-year fixed-rate mortgage or FRM averaged 3.11 percent for the week ending December 2, 2021, up slightly from 3.10 percent last week. A year ago at this time, the average rate was 2.71 percent.

The 15-year FRM this week averaged 2.39 percent, down from 2.42 percent last week. A year ago at this time, the 15-year FRM averaged 2.26 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage or ARM averaged 2.49 percent, up from 2.47 percent last week. It was 2.86 percent a year ago.

"Mortgage rates continue to remain stable notwithstanding volatility in the financial markets," said Sam Khater, Freddie Mac's Chief Economist. "The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. This low mortgage rate environment offers favorable conditions for refinancing."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Plumrose USA's ready-to-eat or RTE ham product citing that it may not be fully cooked due to underprocessing. The product subject to the public health alert is 1-lb resealable plastic packages containing "Great Value Black Forest Ham Water Added" with a "BEST IF USED BY 07/15/22". America New York Ri Wang Food Group Co., Ltd. is recalling around 14,635 pounds of ready-to-eat or RTE pork sausage products due to possible contamination with extraneous materials, specifically metal, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The TJX Companies, Inc. (TJX) said its first-quarter pretax profit margin and earnings per share, each on an adjusted basis, exceeded its plans even though sales were slightly below planned range. Adjusted pretax margin was 9.4%, excluding a 1.9 percentage point charge related to a write-down of the...
Follow RTT