Mortgage rates continue to hold steady, according to the latest data from Freddie Mac…(Freddie Mac)
- 30-YR FIXED: Fell one basis point to average 3.10% for the week ending December 9th. This is 39 basis points higher than one year ago.
- 15-YR FIXED: Fell one basis point to average 2.38% for the week ending December 9th. This is 12 basis points higher than one year ago.
Sam Khater, Freddie Mac’s Chief Economist, noted that rates have been moving sideways for several weeks and what direction they decide to move after this will be decided by COVID…
“Going forward, the path that rates take will be directly impacted by more information about the Omicron variant as it is revealed and the overall trajectory of the pandemic. In the meantime, rates remain low and stable, even as the nation faces declining housing affordability and low inventory.”