US Mortgage Rates Increase in the Week Ending December 26
Mortgage Rates Continue to Rise
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, December 26.
The 30-year fixed-rate mortgage averaged 6.85%, up from last week when it averaged 6.72%. A year ago at this time, the 30-year rate averaged 6.61%.
The 15-year fixed-rate mortgage averaged 6.00%, up from last week when it averaged 5.92%. A year ago at this time, the 15-year rate averaged 5.93%.
Commenting on the survey results, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates increased for the second straight week, rebounding after a decline from earlier this month. While a slight improvement in new- and existing-home sales is encouraging, the market remains plagued by an overwhelming undersupply of homes. A strong economy can help build momentum heading into the new year and potentially boost purchase activity.”
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