US Mortgage Rates Fall for 3rd Week: MBA
2024-12-11
Category: economic

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) in the US fell to 6.67% in the week ended December 6, 2024, the lowest in seven weeks, compared to 6.69% in the previous period, according to the Mortgage Bankers Association.
It marks the third consecutive decline in mortgage rates.
In early November, borrowing costs surged alongside rising Treasury yields amid Donald Trump's election victory and expectations of a slower pace of Federal Reserve rate cuts.