The average rate on the 30-year, fixed-rate mortgage fell two basis points, the 15-year fixed rate was unchanged,  and  the 5/1 ARM climbed three basis points, according to a NerdWallet survey of

The average rate on the 30-year, fixed-rate mortgage fell two basis points, the 15-year fixed rate was unchanged,  and  the 5/1 ARM climbed three basis points, according to a NerdWallet survey of daily mortgage rates published by national lenders Tuesday.

The 30-year fixed-rate mortgage is  four basis points below where  it was a week ago, and  15 basis points lower than one  year ago. A basis point is one one-hundredth of one percent.

But the drop in mortgage rates hasn't translated into more home sales. Compared  with 12 months earlier, existing-home sales were down 0.9% in October, according to the National Association of Realtors. Home prices  increased 5.5% in those 12 months; meanwhile, average weekly earnings went up  2.4%.

The U.S. median price of an existing home was $247,000 in October, and the  supply of for-sale homes fell to 3.9 months from 4.4 months year-over-year.

'Sales are still below year-ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated,'  Lawrence Yun, chief economist for the National Association of Realtors, said in a news release.

MORTGAGE RATES TODAY, TUESDAY, NOV. 21:

(Change from 11/20)
30-year fixed: 4.07% APR (-0.02)
15-year fixed: 3.65% APR  (NC)
5/1 ARM: 4.09% APR (+0.03)

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NerdWallet daily mortgage rates are an average of the published annual percentage rate  with the lowest points for each loan term offered  by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing  the most accurate view of the costs  a borrower might pay.

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Holden Lewis is a writer at NerdWallet. Email: hlewis@nerdwallet.com. Twitter: @HoldenL.