Mortgage rates stable, slightly up for second straight week

The average rate for 30-year fixed mortgages ticked up slightly to 4.40 percent for the week ending Nov. 18, compared to the 4.39 percent rate the loans averaged the week before, according to data from mortgage giant Freddie Mac.

The two weeks of increases come after eight straight weeks of falling mortgage rates.

Rates for 15-year fixed mortgages averaged 3.77 percent this week, a hike of 0.21 percent from the previous week's average of 3.76 percent.

The average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages was 3.45 percent, compared to 3.40 percent the previous week. The one-year ARM average rate fell slightly to 3.23 percent. It was 3.26 percent the previous week.

Freddie Mac also note that mortgage delinquency rates continued to fall in the third quarter, with the overall rate now at 9.13 percent, the lowest since the first quarter of 2009.

"For the first time during the housing downturn, the overall delinquency rate is lower than it was a year earlier," said Frank Nothaft, Freddie Mac's vice president and chief economist.