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.”
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