Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show the 30-year fixed-rate mortgage (FRM) averaged 6.27% as of December 22. That’s down from last week, when it averaged 6.31%.
A year ago at this time, the 30-year FRM averaged 3.05%.
“Heading into the holidays, mortgage rates continued to move down,” says Sam Khater, Freddie Mac’s chief economist. “Rates have declined significantly over the past six weeks, which is helpful for potential homebuyers, but new data indicates homeowners are hesitant to list their homes. Many of those homeowners are carefully weighing their options as more than two-thirds of current homeowners have a fixed mortgage rate of below four percent.”
The 15-year fixed-rate mortgage averaged 5.69%, up from last week when it averaged 5.54%. A year ago at this time, the 15-year FRM averaged 2.30%.
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