Mortgage rates drop for first time in 7 weeks

Mortgage rates ticked down this week, snapping a seven-week streak of increases.

<p>WASHINGTON — Mortgage rates ticked down this week, snapping a seven-week streak of increases.</p><p>The 30-year fixed-rate mortgage fell to an average of 7.76% in the week ending Nov.

</p><p>&quot&#x3B;The 30-year fixed-rate mortgage paused its multi-week climb but continues to hover under 8%,&quot&#x3B; said Sam Khater, Freddie Mac's chief economist.

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