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Mortgage Rates Inch Down After Weeks of Gains

Sunday, Nov 07 2021
Lending
Written by  The Mortgage Leader

The weekly average for U.S. long-term mortgage rates has edged back lower after rising for the previous several weeks. So reports the Associated Press.

arrow 24112 640 smallAccording to Freddie Mac, the 30-year rate fell to 3.09% from 3.14% for the week ending November 4. That’s still up from 2.78% a year ago.

Freddie Mac’s chief economist, Sam Khater, said in a statement, “While mortgage rates fell after several weeks on the rise, we expect future upticks due to stronger economic data and as the Federal Reserve pulls back on its stimulus.”

Read the full article from the Associated Press.

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