In the final week of November, mortgage rates held their ground on Tuesday after a slight increase in interest rates one day before. US treasury bonds were in better shape for the second straight trading session on the same day. Yields were moving down which led investors to flock to safe haven assets, even though there are increasing and consistent geopolitical tensions.

According to an analysis of mortgage data across the country, the typical lender is now quoting between 4% and 4.125% for a standard 30 year fixed mortgage in the majority of cases. Since the middle of October, expectations have hardened with a belief that the Federal Reserve will move away from a zero interest rate policy in the FOMC meeting held during December. This could lead to potentially higher mortgage rates. On Tuesday in the final week of November, the yield for the ten year treasury note benchmark, declined by one basis point to 2.24%.

Since mortgage rates typically follow the movement of the ten year Treasury bond, it is expected that some lenders will make minor adjustments to their rate sheets as a result of this. For the most part, current mortgage rates across the country are in line with those levels seen prior to these changes however. Regarding the long-term 30 year treasury yield, however, this has also stayed unchanged since the beginning of the same week. Mortgage rates eased nationwide across the country this last week as shown in Freddie Max Primary Mortgage Market Survey.

The survey indicated that the national rate average on a 30 year fixed mortgage dropped to 3.95% leading up to Thanksgiving, which is a two year basis point decline when compared with data from one week before. As far as adjustable rate mortgages, the current rate average on the 5/1 ARM is around 3.01% which is an increase of three basis points when looking at data from the prior week.