Freddie Mac: Mortgage Rates Trend Down

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.44 percent.

“For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding,” said Sam Khater, Freddie Mac’s Chief Economist. “The combination of continued economic strength, lower inflation and lower mortgage rates should likely bring more potential homebuyers into the market.”

News Facts

• 30-year fixed-rate mortgage averaged 7.44 percent as of November 16, 2023, down from last week when it averaged 7.5 percent. A year ago at this time, the 30-year FRM averaged 6.61 percent.
• 15-year fixed-rate mortgage averaged 6.76 percent, down from last week when it averaged 6.81 percent. A year ago at this time, the 15-year FRM averaged 5.98 percent.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

About Freddie Mac

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

Contact:

Angela Waugaman – Angela_Waugaman@FreddieMac.com – (703) 714-0644

Source: Freddie Mac