Mortgage rates tick down
By LBM Journal
November 23, 2022
MCLEAN, Va. — Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing the 30-year fixed-rate mortgage (FRM) averaged 6.58%. This week’s results include an adjustment for the observance of Thanksgiving.
“Mortgage rates continued to tick down heading into the Thanksgiving holiday,” said Sam Khater, Freddie Mac’s chief economist. “In recent weeks, rates have hit above seven percent only to drop by almost half a percentage point. This volatility is making it difficult for potential homebuyers to know when to get into the market, and that is reflected in the latest data which shows existing home sales slowing across all price points.”
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30-year fixed-rate mortgage averaged 6.58% as of November 23, 2022, down from last week when it averaged 6.61%. A year ago at this time, the 30-year FRM averaged 3.10%.
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15-year fixed-rate mortgage averaged 5.90%, down from last week when it averaged 5.98 percent. A year ago at this time, the 15-year FRM averaged 2.42%.