Mortgage rates saw a slight uptick as concern over the omicron variant wanes, according to the latest data from Freddie Mac…(Freddie Mac)
- 30-YR FIXED rates saw a two basis point increase to average 3.12% for the week ending December 16th. This is 45 basis points higher than one year ago.
- 15-YR FIXED rates actually fell 4 basis points to average 2.34% for the week ending December 16th. This is 13 basis points higher than one year ago.
Sam Khater, Freddie Mac’s Chief Economist, said home prices are continuing to rise even as rates inch up making affordability even worse for protentional buyers…
- “While house price growth is slowing, prices remain high due to solid housing demand and low supply. We expect rates to continue to increase into 2022 which may leave some potential homebuyers with less room in their budgets on the sideline.”