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Mortgage Financing • November 17, 2022

Good News or Better Record-keeping?

by Jim Demarest

Probably both.  Freddie Mac reported the National Average Mortgage rate dropped to 6.61% this week down from 7.08% reported last week.  The commentary cited incoming data suggesting inflation may have peaked (the good news).  In the same report, Freddie announced enhancements they’ve made in reporting the weekly average rate.  They’ve expanded and changed their dataset suggesting a more accurate measurement moving forward.  The next few weeks will be interesting to determine how the new methodology effects the number.

If you need more information about a mortgage for a purchase you’re considering, let me know and I’ll connect you to a mortgage professional with all the answers.

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Market Conditions Mortgage Rates Down Again The National Average Mortgage Rate declined for the fifth consecutive week to 6.31%.  This is good news for sellers and buyers of real estate as it reflects some stabilization in the market.
Market Conditions Dramatic Drop in Mortgage Rate The National Average Mortgage rate is 6.33% this week as reported by Freddie Mac.  This is the fourth consecutive week of decline in the rate.  In fact the rate has declined three quarters of a percent in this period, the sharpest decline since 2008.
Market Conditions Mortgage Rate Declines for third week Mortgage rates continued to decline this week as optimism that the Federal Reserve will slow Fed Rate hikes.  The optimism is based on indications that the actions of the Federal Reserve have started working to control inflation.
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