Mortgage Rate Declines Slightly

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The November 25 release of the results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) shows the average 30-year fixed mortgage rate declining slightly leading up to the Thanksgiving holiday. The average 30-year fixed rate mortgage hasn’t risen above 4 percent since the week of July 23rd of this year, which is helping homebuyer affordability in the face of rising house prices due to low levels of inventory in many markets.

Mortgage Rates Below Four Percent For Twelve Straight Weeks

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Freddie Mac’s October 15 release of the results of its Primary Mortgage Market Survey® (PMMS®) shows average fixed mortgage rates nudging higher throughout the beginning of the week. However, Fed comments suggesting it may not raise short-term interest rates yesterday, coupled with weaker than expected consumer demand, pushed Treasury yields lower suggesting interest rates may remain lower than reported a while longer.