Mortgage Rates Tick Up

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MCLEAN, Va., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey ® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.84 percent.

“Mortgage rates ticked back up this week, continuing to approach 7 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Heading into the holidays, purchase demand remains in the doldrums. While for-sale inventory is increasing modestly, the elevated interest rate environment has caused new construction to soften.”

News Facts

The 30-year FRM averaged 6.84 percent as of November 21, 2024, up from last week when it averaged 6.78 percent. A year ago at this time, the 30-year FRM averaged 7.29 percent.
The 15-year FRM averaged 6.02 percent, up from last week when it averaged 5.99 percent. A year ago at this time, the 15-year FRM averaged 6.67 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
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/52abcd14-5c3a-4cfe-9eba-150124cdf4d8