30-year fixed mortgage rate for week ending today fell to 7.22% from 7.29%, Freddie Mac data show.

• 15-year rate avg 6.56%, down from 6.67% a week earlier
• "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 level," said Sam Khater, Freddie Mac’s Chief Economist.
• In a report out earlier this week MBA said the 30-year fixed rate was 7.37% for the week ending last Friday

NOTE: Figures beginning with Nov. 17 report incorporate change in methodology to reflect applications submitted to Freddie Mac, as opposed to lender survey responses. More information can be found here.

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