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Mortgage rates dip back below 7%

Por: CNN Business November 03, 2022

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Mortgage rates fell this week after surpassing 7% for the first time in 20 years last week. The 30-year fixed-rate mortgage averaged 6.95% in the week ending November 3rd, down from 7.08% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate stood at 3.09%. Mortgage rates continue to hover around 7%, causing the once-hot housing market to cool considerably, said Sam Khater, Freddie Mac’s chief economist. The 30-year... + full article



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