Mortgages Rates Rise in 2017, but Remain Low Overall

Information provided by the Federal Housing Financing Agency (FHFA) indicates that mortgage rates on purchases of newly built homes rose 7 basis points in November to 4.00 percent. At this level, rates remain below the 4.18 cycle peak level recorded in February. Meanwhile, a more commonly used rate reported by Freddie Mac indicates that mortgage rates rose by 2 basis points in November to 3.92 percent and by another 3 basis points in December to 3.95 percent. Despite some monthly divergence, the two series track each other.

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Source: NAHB

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