Mortgage rates slightly rise

Rates rise on upward revision of last three months' employment figures; 30-year fixed hits 6.33 percent.


NEW YORK (CNNMoney.com) -- Mortgage rates rallied their upward trend on the news of large upward revisions over the past three months in employment figures, according to a survey released Thursday.

The 30-year fixed-rate mortgage (FRM) averaged 6.33 percent for the week ending Nov. 9, up from 6.31 percent, according to Freddie Mac's (Charts) Primary Mortgage Market Survey. A year ago, the 30-year FRM averaged at a higher level: 6.36 percent.

Mortgage Rates
30 yr fixed 4.07%
15 yr fixed 3.13%
5/1 ARM 3.22%
30 yr refi 4.12%
15 yr refi 3.19%

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Rates provided by Bankrate.com.

The 15-year FRM averaged 6.04 percent this week, up from 6.02 percent last week. A year ago, it averaged 5.89 percent.

Rates for five-year adjustable-rate mortgages (ARMs) came in at 6.08 percent this week, up from 6.05 percent last week. A year ago, they averaged 5.81 percent.

One-year ARMs averaged 5.55 percent, up from 5.53 percent last week. A year ago, the one-year ARM averaged 5.12 percent.

"Mortgage rates rose earlier in the week on news of large upward revisions over the past three months in employment figures, but began to drift lower as the market looked more deeply into the numbers," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. "For instance, in October the construction industry lost jobs, primarily due to the slowing housing market.

"That same slowing housing market shaved a little over 1 percentage point from the growth rate of Gross Domestic Product (GDP) in the third quarter. However, we expect that the GDP growth rate will increase in the final quarter of this year, although that increase is expected to come from areas other than housing."


Beware the mortgage time-bomb That ridiculously low-rate ARM may have seemed like a good idea at the time. But now, payments will be coming due in a big, big way.

Realtors: Home sales weaker, prices lower Trade group expects 1.6 percent rise in median prices, a smaller increase than forecast last month. Top of page



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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.