Mortgage rates continue to drop, survey shows

“Mortgage rates have fallen for the third consecutive week,” said Sam Khater, Chief Economist at Freddie Mac.

“This drop, combined with steady consumer income growth and a strong stock market, has boosted homebuyer demand in recent weeks. While the housing market’s outlook is improving, challenges persist, as homebuyers continue to struggle with affordability.”

Key Findings:

• As of December 12, 2024, the average 30-year FRM is 6.60 percent, down from 6.69 percent the previous week. One year ago, it stood at 6.95 percent.
• The 15-year FRM averaged 5.84 percent, down from last week’s 5.96 percent. A year ago, it was at 6.38 percent.

The PMMS® tracks conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit and a 20 percent down payment. For additional details, visit our Frequently Asked Questions.

Freddie Mac’s mission is to help make homeownership possible for families nationwide by promoting liquidity, stability, affordability, and equity in the housing market through all economic cycles.

Since its inception in 1970, Freddie Mac has assisted millions of families in buying, renting, or retaining their homes.

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