Morning Minute: Mortgage rates continue to hover near record lows

Freddie Mac reports today that mortgage rates “remain settled in near record lows” with the 30-year, fixed rate averaging 3.40 percent, up slightly compared to last week’s 3.39 percent. The 15-year, fixed rate averaging 2.69 percent, down from last week’s 2.70 percent. Read the full release from Freddie Mac.

“Mortgage rates remained near record lows following the employment report for October. The economy added 171,000 jobs, above the market consensus forecast, and the two prior months were revised up a combined 84,000. The Labor Department also reported that the unemployment rate ticked up to 7.9 percent and that average hourly wages were unchanged.”  — Frank Nothaft, vice president and chief economist, Freddie Mac.

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.