According to Freddie Mac, the average for the 30-year fixed rate mortgage was 6.61% in the week ending November 17, compared with 7.08% the prior week.
By comparison, the 30-year fixed rate averaged 3.10% at this time in 2021.
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
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Mortgage Rates See Biggest Weekly Drop in Four Decades
Economic indicators that inflation may be cooling have driven U.S. long-term mortgage rates to their sharpest weekly decline in more than four decades. So reports CNN.
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