India, Nov. 21 -- Mortgage rates, or interest rates on home loans, drop for the first time in three weeks, according to mortgage provider Freddie Mac (FMCC.OB).
Releasing the results of its primary mortgage market survey, Freddie Mac said that the 30-year fixed-rate mortgage or FRM averaged 3.66 percent for the week ending November 21, 2019, down from last week's 3.75. A year ago at this time, the average rate was 4.81 percent.
The 15-year FRM this week averaged 3.15 percent, down from last week's 3.20 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage or ARM averaged 3.39 percent, down from 3.44 percent last week. It was 4.09 percent a year ago.