US Mortgage Rates Continue to Ease
2024-12-13
Category: economic

The average rate on a 30-year fixed mortgage eased to 6.6% as of December 12th, 2024, marking a third consecutive weekly decline to the lowest level since mid-October, as growing market consensus anticipates a rate cut this month. “The 30-year fixed-rate mortgage decreased for the third consecutive week.
The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks.
While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds,” said Sam Khater, Freddie Mac’s Chief Economist.