Interest rates on residential loans moved lower this past week in line with long-term bond yields. But indices on adjustable-rate mortgages moved higher.
Thirty-year fixed rates averaged 3.90 percent in Freddie Mac’s Primary Mortgage Market Survey for the week that finished on Nov. 9.
Long-term rates retreated 4 basis points compared the the prior report. But the 30 year remains 33 BPS higher than as of a year prior.
Source: Mortgage Daily