The average 30-year fixed mortgage rate declined slightly leading up to the Thanksgiving holiday, according to Freddie Mac’s Primary Mortgage Market SurveyThe average 30-year fixed rate mortgage hasn't risen above 4 percent since July, which is helping homebuyer affordability in the face of rising house prices due to low levels of inventory in many markets.

Lately mortgage rates have tended to lag behind moves in the bond market. When rates on ten-year Treasury bonds fell well below 1.9%, mortgage rates also fell, although only slightly. Similarly, when bond rates rose to 2.3%, mortgage rates tended to rise only slightly.

"In a quiet week leading up to the Thanksgiving holiday, the 30-year mortgage rate dipped 2 basis points to 3.95 percent. Economic releases over the last week contained no major surprises, and none are expected in the next few days. The year is winding down, and the only remaining market dates of note are Dec. 4 -- the last employment report of the year -- and Dec. 15-16, the long-awaited FOMC meeting," said Sean Becketti, Freddie Mac’s chief economist.

  • Thirty-year fixed rate mortgages (FRM) averaged 3.95 percent with an average 0.7 point for the week ending Nov. 25, 2015, down from last week when it averaged 3.97 percent. A year ago at this time, the 30-year FRM averaged 3.97 percent. 
  • Fifteen-year fixed rate mortgages this week averaged 3.18 percent with an average 0.6 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.17 percent. 
  • Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARM) averaged 3.01 percent this week with an average 0.5 point, up from last week when it averaged 2.98 percent. A year ago, the 5-year ARM averaged 3.01 percent.
  • One-year Treasury-indexed ARM averaged 2.59 percent this week with an average 0.3 point, down from 2.64 percent last week. At this time last year, the 1-year ARM averaged 2.44 percent.