Mortgage rates fell this week as the October inflation report drove down the yield on the 10-year Treasury. On Thursday, investors priced in a 99.7% chance that the Fed will hold interest rates steady in December, according to the CME Group’s FedWatch tool.

The 30-year, fixed mortgage averaged at 7.44% as of Nov. 16, according to Freddie Mac‘s Primary Mortgage Market Survey. That’s down six basis points from last week’s 7.5% and up from 6.61% the same week a year ago.

HousingWire’s Mortgage Rates Center showed details ⇒

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