MORTGAGE RATES DROP FOR FIFTH STRAIGHT WEEK. Mortgage rates continued to drop this week. It’s the fifth straight week rates have moved lower. The 30-year fixed-rate mortgage fell to an average of 7.22% in the week ending November 30, down from 7.29% the week before, according to data from Freddie Mac released Thursday. “The current trajectory of rates is an encouraging development for potential homebuyers, with purchase application activity recently rising to the same level as mid-September when rates were similar to today’s levels,” he said. Khater added that the modest uptick in demand over the last month suggests that there will likely be more competition in a market that remains starved for inventory. Rates have declined 50 basis points over the past five weeks. Read the full story here.
Take advantage of superior service and the convenience of one-stop shopping for the best loan and insurance coverage to fit your needs. Home warranty coverage is available through America’s #1 home warranty company, American Home Shield.