Freddie Mac: The 30-Year Fixed-Rate Mortgage Continues to Trend Down

Freddie Mac released the results of its Primary Mortgage Market Survey^® (“PMMS^®“), showing the 30-year fixed-rate mortgage (“FRM”) averaged 6.27 percent.

“Heading into the holidays, mortgage rates continued to move down,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates have declined significantly over the past six weeks, which is helpful for potential homebuyers, but new data indicates homeowners are hesitant to list their homes. Many of those homeowners are carefully weighing their options as more than two-thirds of current homeowners have a fixed mortgage rate of below four percent.”

News Facts

• 30-year fixed-rate mortgage averaged 6.27 percent as of December 22, 2022, down from last week when it averaged 6.31 percent. A year ago at this time, the 30-year FRM averaged 3.05 percent.
• 15-year fixed-rate mortgage averaged 5.69 percent, up from last week when it averaged 5.54 percent. A year ago at this time, the 15-year FRM averaged 2.30 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.

About Freddie Mac

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 FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

Contact:

Angela Waugaman – Media Contact – Angela_Waugaman@FreddieMac.com – (703) 714-0644

Source: Freddie Mac