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Mortgage Rates Stay Flat Ahead of Holiday Weekend

WRE NEWS December 1, 2024

Buyer

Mortgage Rates Stay Flat Ahead of Holiday Weekend

Mortgage rates remained flat ahead of the Thanksgiving holiday weekend, according to the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.81% as of Nov. 27, down from last week when it averaged 6.84%. A year ago at this time, the 30-year FRM averaged 7.22%.

The 15-year fixed-rate mortgage averaged 6.10%, up from last week when it averaged 6.02%. A year ago at this time, it averaged 6.56%.

“The 30-year fixed-rate mortgage moved down this week, but not by much,” said Sam Khater, Freddie Mac’s chief economist. “Rates have been relatively flat over the last few weeks as the market waits for more clarity on specific economic policies. Potential homebuyers are also waiting on the sidelines, causing demand to be lackluster. Despite the low sales activity, inventory has only modestly improved and remains dramatically undersupplied.”

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