US Mortgage Rates Resume Upward Trek in the Week Ending December 19th
Heading into the Holidays, Mortgage Rates Increase
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, December 19th.
The 30-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.60%. A year ago at this time, the 30-year rate averaged 6.67%.
The 15-year fixed-rate mortgage averaged 5.92%, up from last week when it averaged 5.84%. A year ago at this time, the 15-year rate averaged 5.95%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“This week, mortgage rates crept up to a similar average as this time in 2023. For the most part, mortgage rates have moved between 6% and 7% over the last 12 months. Homebuyers are slowly digesting these higher rates and are gradually willing to move forward with buying a home, resulting in additional purchase activity.”
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