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30-year fixed-rate mortgage (FRM) averaged 4.39 percent with an average 0.9 point for the week ending November 18, 2010, up from last week when it averaged 4.17 percent.  Last year at this time, the 30-year FRM averaged 4.83 percent. 

15-year FRM this week averaged 3.76 percent with an average 0.7 point, up from last week when it averaged 3.57 percent. A year ago at this time, the 15-year FRM averaged 4.32 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.40 percent this week, with an average 0.7 point, up from last week when it averaged 3.25 percent. A year ago, the 5-year ARM averaged 4.25 percent.

1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, unchanged from last week when it also averaged 3.26 percent. At this time last year, the 1-year ARM averaged 4.35 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, reports, "Rates on 30-year fixed-rate mortgages were up to the highest level since early August and rates on shorter-maturity loans rose as well, although by somewhat lesser amounts. Retail sales rose by nearly twice the consensus in October and represented the strongest gain since March. Moreover, consumer sentiment, as measured by the University of Michigan, ticked up in November to the highest level since June."

He continues, "The housing market is showing some potential gains as well. Although new construction on one-family homes dipped 1.1 percent in October, homebuilder confidence rose in November to the strongest level since June, according to the NAHB/Wells Fargo Housing Market Index. In addition, median house prices showed positive annual growth in 77 out of 155 metropolitan areas in the third quarter of this year, with 11 exhibiting double-digit increases, according the National Association of Realtors ®; only 30 cities experienced positive annual gains in the third quarter of 2009." Today's Local Market Conditions Report