Home Mortgage Rates Stay Flat

[jeffrey]

Mortgage rates stayed relatively flat this week after an increase last week due to the Federal Reserve's short-term interest rate increase. The average fixed-rate mortgage averaged 5.74% for the week ending Nov. 18 according to the weekly Freddie Mac survey, down slightly from the week before. 15-year fixed-rate mortgages also remained steady at an average of 5.15%. The nationwide mortgage rate averages don't include points (fees that are added on to get the mortgage) with both the 30-year and 15-year mortgages averaging a 0.6 point fee.

15-year fixed rate mortgages are a popular option with those refinancing their home mortgage to save money. With interest rates still relatively low, it makes financial sense to refinance if you haven't done so in the past few of years.