Interest Rates Hit Historic Lows since 1971

Washington, D.C. - Federal Housing Finance Agency (FHFA) reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders was 3.36% based on loans closed in November. Using these numbers as an index in some adjustable-rate mortgage (ARM) contracts, this is a historic low. There was a decrease of 0.08 from the previous month. For more info on how FHFA collected this data please visit: www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx.