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Giving Home > Giving News > Finance News > Mortgage Rates Continue Downard

Mortgage Rates Continue Downard

Published December 13, 2024

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, December 12. The survey indicated that the 30-year mortgage rate declined for the third straight week.

This week, the 30-year fixed rate mortgage averaged 6.60%, down from last week’s average of 6.69%. Last year at this time, the 30-year fixed rate mortgage averaged 6.95%.

The 15-year fixed rate mortgage averaged 5.84% this week, down from last week’s 5.96%. During the same week last year, the 15-year fixed rate mortgage averaged 6.38%.

“The 30-year fixed-rate mortgage decreased for the third consecutive week,” said Freddie Mac’s Chief Economist, Sam Khater. “The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds.”

Based on published national averages, the savings rate was 0.43% as of 11/18. The one-year CD averaged 1.84%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.