Despite Market Volatility, Bank Mortgage Rates Stabilize in U.S.

According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates moderated in mid-November, after increasing last week. Sam Khater, Freddie Mac's chief economist, says, "Despite the recent market volatility, mortgage rates remained steady this week. The stability in mortgage rates reflects the moderation in inflationary pressures in the economy due to lower oil prices and subdued wage growth. On the margin, lower energy costs are positive for the home sales market, particularly for lower-middle income suburban buyers who spend proportionately more income on transportation costs.