Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending November 24, 2021. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.10% with an average 0.7 point, unchanged from last week. A year ago, at this time, the 30-year FRM averaged 2.72%.
The 15-year fixed-mortgage averaged 2.42% with an average 0.7 point, up from last week when it averaged 2.39%. A year ago, at this time, the 15-year FRM averaged 2.28%.
In a statement prepared for the release of this week’s PMMS report, Freddie Mac’s Chief Economist, Sam Khater said, “Despite the noise around the economy, inflation, and monetary policy, mortgage rate volatility has been low. For most of 2021, mortgage rates have stayed within half a percentage point, which is a smaller range than in past years.”
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