US Mortgage Rates Decline for Third Consecutive Week
Mortgage Rates Continue to Drop
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, December 12th.
The 30-year fixed-rate mortgage averaged 6.60%, down from last week when it averaged 6.69%. A year ago at this time, the 30-year rate averaged 6.95%.
The 15-year fixed-rate mortgage averaged 5.84%, down from last week when it averaged 5.96%. A year ago at this time, the 15-year rate averaged 6.38%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage decreased for the third consecutive week. The combination of mortgage rate declines, firm consumer income growth, and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds.”
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