US Mortgage Rates Fall to Lowest Level in Over a Month
Mortgage Rates Continue to Decrease
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, December 5th.
The 30-year fixed-rate mortgage averaged 6.69%, down from last week when it averaged 6.81%. A year ago at this time, the 30-year rate averaged 7.03%.
The 15-year fixed-rate mortgage averaged 5.96%, down from last week when it averaged 6.10%. A year ago at this time, the 15-year rate averaged 6.29%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“This week, mortgage rates decreased to their lowest level in over a month. Despite just a modest drop in rates, consumers clearly have responded as purchase demand has noticeably improved. The responsiveness of prospective homebuyers to even small changes in rates illustrates that affordability headwinds persist.”
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