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On the radar: Freddie Mac mortgage rates back down as of November 21

Freddie Mac reported weekly mortgage interest rates were down again across-the-board as of November 21. Mortgage rates remain within reach of three year lows and appealing to potential homebuyers.

The 30-year fixed rate was down 9 basis points to 3.66%, its lowest since 3.57% in the October 10 week. The average for November to-date was at 3.70%, just a tick below the 3.69% for October.

The 10-year fixed rate was down 5 basis points to 3.15%, more than erasing the 7 basis point gain in the prior week. The average for for the first three weeks of November is 3.16%, slightly above the 3.14 of October.

The rate for a 5/1-year ARM was down 5 basis points to 3.39%, retracing the prior week’s rise. For November to-date, the rate averaged 3.41%, a little above the 3.38% of October and September.

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