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Treasure Coast & Palm Beach | Real Estate News

Mortgage Rates Hold Steady as Housing Market Stresses Mount

Rates for home loans took a breather after churning to the highest in nearly eight years, mortgage liquidity provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 4.94% in the Nov.15 week, unchanged during the week. The 15-year fixed-rate mortgage averaged 4.36%, up three basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.14%, also unchanged. Those rates don’t include fees associated with obtaining mortgage loans. Fixed-rate mortgages move in line with the U.S. 10-year Treasury note, although with a slight delay. Investors have snatched up bonds as concerns about the Chinese economy and geopolitics have prompted a stock sell-off. Bond yields fall as prices rise, and vice versa. Meanwhile, a sense of stagnation keeps creeping into the many corners of the housing market. ...