Mortgage rates fall for the second week in a row

Mortgage rates declined again this week, after falling by about half a percentage point last week.

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The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23.

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A year ago, the 30-year fixed rate was 3.10%.

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Mortgage rates have risen throughout most of 2022

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Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation

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last week, rates tumbled amid reports that indicated inflation may have finally reached its peak

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The average mortgage rate is based on mortgage applications that Freddie Mac receives

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The average weekly rates, typically released by Freddie Mac

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