Mortgage Rates Continue to Decrease

“This week, mortgage rates decreased to their lowest level in over a month,” said Sam Khater, Freddie Mac’s Chief Economist. “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.”

News Facts

• The 30-year FRM averaged 6.69 percent as of December 5, 2024, down from last week when it averaged 6.81 percent. A year ago at this time, the 30-year FRM averaged 7.03 percent.
• The 15-year FRM averaged 5.96 percent, down from last week when it averaged 6.10 percent. A year ago at this time, the 15-year FRM averaged 6.29 percent.

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