Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The 30-year fixed-rate mortgage remained below seven percent for the second week in a row, a welcome downward trend after 17 consecutive weeks above seven percent. Lower rates are bringing potential homebuyers who were previously waiting on the sidelines back into the market and builders already are starting to feel the positive effects. A rise in homebuilder confidence, followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low."
• 30-year fixed-rate mortgage (FRM) averaged 6.67 percent for the week ending December 21, 2023, down from last month when it averaged 7.29 percent. A year ago, at this time, the 30-year FRM averaged 6.27 percent.
• 15-year FRM this week averaged 5.95 percent, down from last month when it averaged 6.67 percent. A year ago, at this time, the 15-year FRM averaged 5.69 percent.
