Mortgage Rates Remain Near Record Lows
Freddie Mac released the results of its weekly Primary Mortgage Market Survey this morning, revealing a slight uptick in average mortgage rates for 30-year and 15-year fixed mortgage rates for the week ending Dec. 6.
Thirty-year FRMs rose 0.02 percentage points from last week, clocking in at 3.34%, the highest since the Nov. 15 survey report. The fees and points metric, however, returned to its previous seven-week level of 0.7, after rising to 0.8 last week. Fifteen-year FRMs also nudged up a bit, from last week's 2.64% to the current 2.67%.
Mortgage rates are still hovering around their record lows, with year-ago values for 30-year FRMs at 3.99%, and 15-year loans averaging 3.27% a year ago. A spokesperson for Freddie Mac noted that fixed mortgage rates are changing little during the current climate of low inflation, stronger economic growth, and a resurgent housing market.
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