Mortgage rates have barely budged in weeks — but that could change as the Federal Reserve is set to meet next week.
The 30-year fixed-rate mortgage averaged 3.1% for the week ending Dec. 9, down one basis point from the previous week, Freddie Mac FMCC, +6.25% reported Thursday. The 15-year fixed-rate mortgage fell by the same amount to an average of 2.383%. The 5-year Treasury-indexed adjustable-rate mortgage, meanwhile, averaged 2.45%, down four basis point from the previous week.
Long-term bond yields, including the 10-year Treasury note TMUBMUSD10Y, 1.499%, fluctuated over the past week, responding to mixed signals on the labor market and positive indications regarding the effectiveness of certain treatments to the latest strain of the virus that causes COVID-19.
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