Defying expectations, mortgage interest rates appear poised to finish the below 4 percent. This week the average 30-year fixed-rate mortgage across the country stood at 3.89 percent, the lowest level since the week of May 30, 2013, according to Freddie Mac's Primary Mortgage Rate Survey. Here's a rundown on the rates:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.89 percent with an average 0.5 point. It's down from 3.97 percent during the previous week and 4.46 percent last year.
  • The 15-year FRM averaged 3.10 percent with an average 0.5 point, down from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 3.47 percent.
  • The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.5 point, down from last week when it averaged 3.01 percent. A year ago, the 5-year ARM averaged 2.99 percent.

Here's what Frank Nothaft, vice president and chief economist, Freddie Mac, had to say about the situation: "Mortgage rates were down across the board on a week of underwhelming economic releases. New home sales missed consensus expectations by selling at an annual pace of 458,000 units in October and the National Association of Realtors reported that pending home sales dipped in October by 1.1 percent. The ADP's estimate for payroll growth in November was 208,000 jobs, under expectations of 225,000."