Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates continued to decrease heading into the Thanksgiving holiday. In recent weeks, rates have dropped by half a percent, but potential homebuyers continue to hold out for lower rates and more inventory. This dynamic is reflected in the latest data showing that existing home sales have fallen to a thirteen-year low."
• 30-year fixed-rate mortgage (FRM) averaged 7.29 percent for the week ending November 22, 2023, up from last month when it averaged 7.79 percent. A year ago, at this time, the 30-year FRM averaged 6.58 percent.
• 15-year FRM this week averaged 6.67 percent, up from last month when it averaged 7.03 percent. A year ago, at this time, the 15-year FRM averaged 5.9 percent.
