30-Year Rate Hits 10-Month Low

The average 30-year fixed mortgage rate fell from 6.18% to 6.14% over the seven-day period ended Nov. 30, its lowest level since the 6.12% recorded during the week ended Jan. 26, according to Freddie Mac's Primary Mortgage Market Survey.

The average 15-year fixed mortgage rate fell from 5.91% to 5.87%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages declined from 5.99% to 5.95%, and the average rate for one-year Treasury-indexed ARMs decreased from 5.49% to 5.46%, Freddie Mac reported. Fees and points averaged 0.4 of a point for fixed-rate mortgages and 0.5 of a point for ARMs.

A year ago, the average 30-year and 15-year fixed rates were 6.26% and 5.81%, respectively, and the average hybrid and one-year ARM rates were 5.76% and 5.16%, respectively.