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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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.
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.