US Mortgage Rates Inch Lower in the Week Ending November 27th
The 30-Year Fixed-Rate Mortgage Inches Down
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Wednesday, November 27th.
The 30-year fixed-rate mortgage averaged 6.81%, down from last week when it averaged 6.84%. A year ago at this time, the rate averaged 7.22%.
The 15-year fixed-rate mortgage averaged 6.10%, up from last week when it averaged 6.02%. A year ago at this time, the 15-year rate averaged 6.56%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage moved down this week, but not by much. Rates have been relatively flat over the last few weeks as the market waits for more clarity on specific economic policies. Potential homebuyers are also waiting on the sidelines, causing demand to be lackluster. Despite the low sales activity, inventory has only modestly improved and remains dramatically undersupplied.”
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