Just looking back at mortgage data from November 2022 and wow, the rates were wild back then. A 30-year fixed was sitting around 6.87% with APR at 6.88% - that was actually down from the week before but still pretty steep compared to what people had gotten used to earlier in the year. Remember when rates were climbing hard in the first half of 2022? That November 2022 mortgage rates snapshot shows things were stabilizing a bit, though nobody knew if they'd keep climbing toward 7% like some were predicting.

The 15-year fixed was at 6.18% if you wanted to pay it off faster, and jumbo mortgages were hovering around 6.89%. If you had locked in a 5/1 ARM back then, you could get 5.48%, which was cheaper upfront but came with that rate adjustment risk after five years. Looking at November 2022 mortgage rates now, it's interesting to see where things were - a $100,000 loan on a 30-year fixed would've run you about $657 monthly just in principal and interest.

The whole market was uncertain at that point. Some experts thought November 2022 mortgage rates would keep climbing, others thought they'd plateau. Turns out the Fed's moves and inflation data in late 2022 had everyone watching closely. If you were shopping for a mortgage then, you definitely had to comparison shop because rates were moving week to week. Pretty different from the early 2020s when rates were historically low.