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The 30-Year Fixed-Rate Mortgage Inches Down

BY GlobeNewswire | AGENCY | 11/27/24 12:00 PM EST

MCLEAN, Va., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Freddie Mac today released the results of its Primary Mortgage Market Survey? (PMMS?), showing the 30-year fixed-rate mortgage (FRM) averaged 6.81 percent. This week?s results include an adjustment for the observance of Thanksgiving.

?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.?

News Facts

  • The 30-year FRM averaged 6.81 percent as of November 27, 2024, down from last week when it averaged 6.84 percent. A year ago at this time, the 30-year FRM averaged 7.22 percent.
  • The 15-year FRM averaged 6.10 percent, up from last week when it averaged 6.02 percent. A year ago at this time, the 15-year FRM averaged 6.56 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.

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 | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Angela Waugaman
(703)714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ca79b6b-da7a-4e9f-895e-6c60439143cf

Image: https://www.globenewswire.com/newsroom/ti?nf=OTI5MDk5NSM2NjEzNzQxIzIwODExNTY=
Image: https://ml.globenewswire.com/media/MDAyMjM3ZTAtOGI4MS00NDc2LWIyODYtNDRmZDFhMTZhMjEyLTEwOTI3Mjc=/tiny/Freddie-Mac.png

Image: Primary Logo

Primary Mortgage Market Survey?
Image: https://ml.globenewswire.com/media/8ca79b6b-da7a-4e9f-895e-6c60439143cf/medium/primary-mortgage-market-survey.png

U.S. weekly average mortgage rates as of 11/27/2024
Source: Freddie Mac

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