30-Year and 15-Year Mortgage Rates Move Lower in Week Ending December 23, 2021

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending December 23, 2021. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.05% with an average 0.7 point, down from last week when it averaged 3.12%. A year ago, at this time, the 30-year FRM averaged 2.66%.

The 15-year fixed-mortgage averaged 2.30% with an average 0.7 point, down from last week when it averaged 2.34%. A year ago, at this time, the 15-year FRM averaged 2.19%.

In a statement prepared for the release of this week’s PMMS report, Freddie Mac’s Chief Economist, Sam Khater said, “The market volatility resulting from the COVID-19 Omicron variant is causing mortgage rates to decrease. As the year comes to a close, the housing market is proceeding steadily. However, rates are expected to increase in 2022 which will impact homebuyer demand as well as refinance activity.”