Heading into the Holidays, Mortgage Rates Increase
MCLEAN, Va., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.72 percent.
“This week, mortgage rates crept up to a similar average as this time in 2023,” said Sam Khater, Freddie Mac’s Chief Economist. “For the most part, mortgage rates have moved between 6 and 7 percent over the last 12 months. Homebuyers are slowly digesting these higher rates and are gradually willing to move forward with buying a home, resulting in additional purchase activity.”
News Facts
- The 30-year FRM averaged 6.72 percent as of December 19, 2024, up from last week when it averaged 6.60 percent. A year ago at this time, the 30-year FRM averaged 6.67 percent.
- The 15-year FRM averaged 5.92 percent, up from last week when it averaged 5.84 percent. A year ago at this time, the 15-year FRM averaged 5.95 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT:
Angela Waugaman
(703)714-0644
Angela_Waugaman@FreddieMac.com
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