Mortgage rates fell this week as investors convinced themselves that the Federal Reserve might cut short-term interest rates when it meets in December.

The average rate on the 30-year fixed-rate mortgage fell 15 basis points to 6.08% APR in the week ending Nov. 26, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.

An empty plate where economic data should be

Sometimes mortgage rates move up or down on the basis of solid economic data. That wasn't the case this week, because there wasn't much economic data for investors to digest. Though the government has reopened, many economic reports remain delayed.

In the absence of hard economic info, the mortgage market operates on speculation. And during the week before Thanksgiving,

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