Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending December 9, 2021. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.10% with an average 0.7 point for the week ending December 9, 2021, down slightly from last week when it averaged 3.11%. A year ago at this time, the 30-year FRM averaged 2.71%.
The 15-year fixed-mortgage averaged 2.38% with an average 0.7 point, down slightly from last week when it averaged 2.39%. A year ago, at this time, the 15-year FRM averaged 2.26%.
In a statement prepared for the release of this week’s PMMS report, Freddie Mac’s Chief Economist, Sam Khater said, “Mortgage rates have moved sideways over the last several weeks, fluctuating within a narrow range. Going forward, the path that rates take will be directly impacted by more information about the Omicron variant as it is revealed and the overall trajectory of the pandemic. In the meantime, rates remain low and stable, even as the nation faces declining housing affordability and low inventory.”
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