Mortgage Rates Drop Below Five Percent 8/04/2022


“Mortgage rates continued to tick down heading into the Thanksgiving holiday,” said Sam Khater, Freddie Mac’s Chief Economist. “In recent weeks, rates have hit above seven percent only to drop by almost half a percentage point. This volatility is making it difficult for potential homebuyers to know when to get into the market, which is reflected in the latest data showing existing home sales slowing across all price points.”

News Facts

  • The 30-year fixed-rate mortgage averaged 6.58 percent as of November 23, 2022, down from last week when it averaged 6.61 percent. A year ago at this time, the 30-year FRM averaged 3.10 percent.
  • The 15-year fixed-rate mortgage averaged 5.90 percent, down from last week when it averaged 5.98 percent. A year ago at this time, the 15-year FRM averaged 2.42 percent.

Houses that are priced, presented & marketed correctly are selling fast.

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Mike McNamara

Mike McNamara

A Las Vegas Realtor since 2008. Mike has a wide range of knowledge around all things Las Vegas.

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