Average rate on US 30-year fixed-rate mortgage falls to 4.22% in week ended Nov. 21 from 4.35% in previous week; rate was 3.31% a year ago: Freddie Mac
Allison Oesterle
MCLEAN, Virginia
,
November 21, 2013
(press release)
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Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates declining amid weaker manufacturing growth and declines in overall inflation rates.
News Facts
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Fixed mortgage rates fell this week on reports of weaker manufacturing growth and declines in overall inflation rates. Industrial production slipped by 0.1 percent in October, below the market consensus forecast of a 0.2 percent gain. The consumer price index also unexpectedly fell during the month. On an annual basis, consumer prices are up 1 percent, the smallest increase since October 2009."
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