Following a considerable rise the week before, mortgage rates remained largely unchanged in the most recent weekly Freddie Mac Primary Mortgage Market Survey.

The average rate on a 30-year fixed mortgage remained unchanged for the week ending November 15, holding at 4.94 percent. That followed a week in which the 30-year rate rose 11 basis points to a seven-year high.

A year ago at this time, the 30-year fixed rate averaged 3.95 percent.

Average rates on 15-year fixed mortgages rose slightly in the last week from 4.33 percent to 4.36 percent. Last year’s average 15-year rate was 3.31 percent.

Rates on 5-year adjustable rate mortgages averaged 4.14 percent, the same as the week before. A year ago, the 5-year ARM averaged 3.21 percent.

"The stability in mortgage rates reflects the moderation in inflationary pressures in the economy due to lower oil prices and subdued wage growth,” said Sam Khater, Freddie Mac chief economist.
“On the margin, lower energy costs are a positive for the home sales market, particularly for lower-middle income suburban buyers who spend proportionately more income on transportation costs.”