A Tick Down In Mortgage Interest Rates

 Freddie Mac today released the results of its Primary Mortgage Market Survey^® for the week ending Dec 1, 2022, showing the 30-year fixed-rate mortgage (FRM) averaged 6.49 percent.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes,” said Sam Khater, Freddie Mac’s Chief Economist. “Even as rates decrease and house prices soften, economic uncertainty continues to limit homebuyer demand as we enter the last month of the year.”

• 30-year fixed-rate mortgage averaged 6.49 percent as of December 1, 2022, down from last week when it averaged 6.58 percent. A year ago at this time, the 30-year FRM averaged 3.11 percent.

• 15-year fixed-rate mortgage averaged 5.76 percent, down from last week when it averaged 5.90 percent. A year ago at this time, the 15-year FRM averaged 2.39 percent.

Check with your mortgage lender for current mortgage rates. You can also check online sites such as Mortgage News Daily.