Long-term rates on home loans moved lower over the past week, and it’s quite possible that the next week could see a similar improvement.

Thirty-year fixed rates averaged 3.92 percent in Freddie Mac’s Primary Mortgage Market Survey for the seven days ended Nov. 22.

Long-term residential rates retreated 3 basis points compared to the preceding week and were 11 BPS lower versus the same seven days last year.

Source: Mortgage Daily