Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates remain at record lows and while that has fueled a refinance boom, it’s been driven mainly by higher income borrowers. With about 20 million borrowers eligible to refinance, lower-and middle-income borrowers are leaving money on the table by not taking advantage of low rates. On the homebuying side, demand continues to surge, and it has created a seller’s market where inventory is at a record low and home prices are rising, beginning to offset the benefits of the low rates."

• 30-year fixed-rate mortgage (FRM) averaged 2.72 percent with an average 0.7 points for the week ending November 25, 2020, down from last month when it averaged 2.81 percent. A year ago, at this time, the 30-year FRM averaged 3.68 percent.

• 15-year FRM this week averaged 2.28 percent with an average 0.6 points, down from last month when it averaged 2.32 percent. A year ago, at this time, the 15-year FRM averaged 3.15 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.16 percent this week with an average 0.3 points, up from last month when it averaged 2.88 percent. A year ago, at this time, the 5-year ARM averaged 3.43 percent.