MARKET COMMENT
Last week was definitely a slow week. The Thanksgiving holiday truncated trading in equity and credit markets and meaningful economic data releases were non-existent. That said, it was also a surprising week, and pleasantly so in the mortgage markets, where rates continued to fall to levels unseen since the first quarter of 2006. On that front, the 30-year fixed-rate mortgage averaged 6.18%, the 15-year fixed-rate mortgage averaged 5.91%, and the five-year Treasury-indexed adjustable-rate mortgage averaged 5.99%, according Freddie Mac’s Primary Mortgage Market Survey.