US Fixed Mortgage Rates Inch Higher in the Week Ending November 6
Original Source:
Rates Remain Near 2025 Lows
Rates Remain Near 2025 Lows
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, November 6.
The 30-year fixed-rate mortgage averaged 6.22%, up from 6.17% the previous week. A year ago at this time, the 30-year rate averaged 6.79%.
The 15-year fixed-rate mortgage averaged 5.50%, up from 5.44% last week. A year ago at this time, the 15-year rate averaged 6.00%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“This week the 30-year fixed-rate mortgage averaged 6.22%. On a median-priced home, this could allow a homebuyer to save thousands annually compared to earlier this year, showing that affordability is slowly improving.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.