Freddie Mac Primary Mortgage Market Survey® (PMMS®) released today shows the 30-year fixed-rate mortgage (FRM) averaged 6.60 percent for the week ending 12/12/2024.
“The 30-year fixed-rate mortgage decreased for the third consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “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.”
The 30-year FRM averaged 6.60 percent as of December 12, 2024, down from last week when it averaged 6.69 percent. A year ago at this time, the 30-year FRM averaged 6.95 percent.
The 15-year FRM averaged 5.84 percent, down from last week when it averaged 5.96 percent. A year ago at this time, the 15-year FRM averaged 6.38 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit.