Book your Thanksgiving flights now or you'll pay much more later

HOUSTON – If you want to fly over the Thanksgiving holiday, the best time to buy your airfare is this week.

History has shown that airfare prices for the week of Thanksgiving typically jump up after the week of Oct. 1.

Travel booking app Hipmunk says booking your flight this week will save you an average of 23 percent off the peak holiday booking price.

The average ticket price the week of Oct. 1 is $387. That average jumps to $500 if you wait until the week before Thanksgiving. That's $113 more. And if you're flying your whole family, that'll add up fast.

You can also save more money by not flying on the day before Thanksgiving, which is typically the most expensive day to fly. Instead, consider flying on Thanksgiving morning or on the Tuesday before turkey day.

Don't forget that if you see a great fare you want, but you still have to get the time off work or check with your spouse, all airline tickets involving a U.S. city can be canceled without penalty within 24 hours of booking as long as you book more than 7 days before the flight. However, how to make the cancellation and get your refund varies from one airline to the next.