Homebuyers Can Lock In Lower Rates This Week, As They Get a Final Cut Before 2020

Mortgage rates fell three basis points to 3.90 percent, a helpful gift for homebuyers this Holiday season, according to Bankrate’s weekly survey of large lenders.

The 15-year fixed-rate mortgage also fell by one basis point to 3.24 percent while 5/1 Adjustable rate mortgages got more expensive, rising to 3.70 percent from 3.65 percent last Week.

A year ago, the benchmark 30-year fixed-rate mortgage was 4.75 percent. Four weeks ago, The rate was 3.88 percent. The 30-year fixed-rate average for this week is 0.78 percentage Points below the 52-week high of 4.68 percent, and is 0.16 percentage points higher than the 52-week low of 3.74 percent.

The 30-year fixed mortgages in this week’s survey had an average total of 0.33 discount and Origination points.

Over the past 52 weeks, the 30-year fixed has averaged 4.13 percent.

This week’s rate is 0.23 Percentage points lower than the 52-week average.

The 15-year fixed-rate mortgage fell to 3.24 percent from 3.25 percent.

The 5/1 adjustable-rate Mortgage rose to 3.70 percent from 3.65 percent.

The 30-year fixed-rate jumbo mortgage rose To 3.82 percent from 3.79 percent.