Mortgage Rates continue dropping for 5th week 12-15-2022
3d image of house with graph falling
“Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy,” said Sam Khater, Freddie Mac’s Chief Economist. “The good news for the housing market is that recent rate declines have led to a stabilization in purchase demand. The bad news is that demand remains very weak in facing affordability hurdles that are still quite high.”
News Facts
- The 30-year fixed-rate mortgage averaged 6.31 percent as of December 15, 2022, down from last week when it averaged 6.33 percent. A year ago at this time, the 30-year FRM averaged 3.12 percent.
- The 15-year fixed-rate mortgage averaged 5.54 percent, down from last week when it averaged 5.67 percent. A year ago at this time, the 15-year FRM averaged 2.34 percent.
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