As a result of the hold, 30-year fixed rates continued to sit above the 3% mark going into the Thanksgiving holidays. In the week ending 25th November, 30-year fixed rates remained unchanged at 3.10%. 30-year fixed rates were still down by 184 basis points, however, since November 2018’s last peak of 4.94%. Early in the week, prelim private sector PMIs were in focus, with the numbers skewed to the negative. While the manufacturing PMI rose from 58.4 to 59.1, the all-important services PMI declined from 58.7 to 57.0. As a result, the Composite PMI fell from 58.7 to 57.0.