Mortgage rates were essentially unchanged for another week as financial markets brushed off a weak November jobs report.
Learn more: Why haven’t mortgage rates fallen since the last Fed rate cut?
The average 30-year mortgage rate was 6.21% this week through Wednesday, according to Freddie Mac data, from 6.22% a week earlier. The average 15-year mortgage rate was 5.47%, from 5.54%.
The 10-year Treasury yield, which mortgage rates closely track, was little changed this week, even though delayed jobs data released on Tuesday showed that the unemployment rate ticked up to 4.6%, the highest level since 2021.
The labor market “slowdown largely matched expectations and did not trigger meaningful moves in Treasury yields or mortgage rates,” Hannah Jones, senior economic research analyst at Realtor.com, said in a statement.
Mortgage rates have been holding steady near their lowest levels of the year since mid-September. The stability helped produce an uptick in buying and selling activity in the fall, but activity has been more muted recently. Mortgage applications to purchase a home fell 3% through Friday from a week earlier, while refinancing applications slipped 4%, according to Mortgage Bankers Association data.
Read more: How to get the lowest mortgage rates right now
The Federal Reserve’s Dec. 10 cut to benchmark interest rates — its third of 2025 — has also done little to influence mortgage rates. Although the Fed doesn’t directly control mortgage rates, they can be affected by the central bank’s policy decisions.
Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance.
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