“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes,” said Sam Khater, Freddie Mac’s Chief Economist. “Even as rates decrease and house prices soften, economic uncertainty continues to limit homebuyer demand as we enter the last month of the year.”
News Facts
- The 30-year fixed-rate mortgage averaged 6.49 percent as of December 1, 2022, down from last week when it averaged 6.58 percent. A year ago at this time, the 30-year FRM averaged 3.11 percent.
- The 15-year fixed-rate mortgage averaged 5.76 percent, down from last week when it averaged 5.90 percent. A year ago at this time, the 15-year FRM averaged 2.39 percent.
Houses that are priced, presented & marketed correctly are selling fast.
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