Mortgage Rates Continue their Downward Trajectory
MCLEAN, Va., Dec. 15, 2022 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.31 percent.
“Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy,” said Sam Khater, Freddie Mac’s Chief Economist. “The good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand. The bad news is that demand remains very weak in the face of affordability hurdles that are still quite high.”
News Facts
- averaged 6.31 percent as of December 15, 2022, down from last week when it averaged 6.33 percent. A year ago at this time, the 30-year FRM averaged 3.12 percent.
- averaged 5.54 percent, down from last week when it averaged 5.67 percent. A year ago at this time, the 15-year FRM averaged 2.34 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 .
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at , Twitter and Freddie Mac’s blog .
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Angela Waugaman
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A photo accompanying this announcement is available at
