Freddie Mac reported that average mortgage rates fell in the week through November 21, with 30-yrs hitting 4.22%, from 4.35% the prior week. While the survey results are released on Thursday, the timing of the data collection means that the data better reflects changes from Monday to Monday or Tuesday to Tuesday than Thursday to Thursday each week. The Primary Mortgage Market Survey (PMMS) is sent on Monday with a response due back by Wednesday. Most responses are completed and submitted on Monday or Tuesday. The responses are averaged and the results are released on Thursday. The survey results, therefore, reflect the average rate and points borrowers were being offered on Monday and/or early Tuesday. Changes in the market since Monday/Tuesday can make the published data misleading when compared to rates and points actually being offered on Thursday. This week, mortgage rates have increased substantially since the survey period earlier in the week. If the survey were conducted this morning, the results for 30-yr rates would show an increase of about 5 basis points from last Thursday.