30-Year Mortgage Rate Up Slightly, 15-Year Rate Down Slightly in the Week Ending December 2, 2021

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending December 2, 2021. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.11% with an average 0.6 point, up slightly from last week when it averaged 3.10%. A year ago, at this time, the 30-year FRM averaged 2.71%.

The 15-year fixed-mortgage averaged 2.39% with an average 0.6 point, down from last week when it averaged 2.42%. A year ago, at this time, the 15-year FRM averaged 2.26%.

In remarks prepared for the release of this week’s PMMS report, Freddie Mac’s Chief Economist, Sam Khater said, “Mortgage rates continue to remain stable notwithstanding volatility in the financial markets. The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. This low mortgage rate environment offers favorable conditions for refinancing.”