US Mortgage Rates Fall to 4-Week Low: MBA

2025-12-03 12:07 By Joana Taborda 1 min. read

The average 30-year fixed mortgage rate eased to 6.32% in the week to November 28, the lowest in four weeks and approaching more than one-year low of 6.2% reached in the third week of October, according to the MBA.

The decline tracks a drop in Treasury yields as bets the Fed will deliver another rate cut in December increased.

Still, the volume of mortgage applications fell by 1.4% to the lowest level in nearly three months, led by a 4.4% fall in refinancing requests.

Meanwhile, applications to purchase a home rose 2.5%, to the highest level since early 2023.

“We continue to see mixed results each week as the broader economic outlook remains cloudy, even as cooling home-price growth and increasing for-sale inventory bring some buyers back into the market”, according to Joel Kan, MBA’s VP.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances decreased to 6.4% from 6.49% and the rate for mortgages backed by the FHA fell to 6.12% from 6.5%.



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