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All • November 21, 2024

Mortgage Interest Rates Tick Up Again

by Rodney Ward

 Freddie Mac today (11/21/2024) 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.”

  • 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.

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