Freddie Mac (today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.05 percent.
“The market volatility resulting from the COVID-19 Omicron variant is causing mortgage rates to decrease,” said Sam Khater, Freddie Mac’s Chief Economist. “As the year comes to a close, the housing market is proceeding steadily. However, rates are expected to increase in 2022 which will impact homebuyer demand as well as refinance activity.”
•30-year fixed-rate mortgage averaged 3.05 percent with an average 0.7 point for the week ending December 23, 2021, down from last week when it averaged 3.12 percent. A year ago at this time, the 30-year FRM averaged 2.66 percent.
•15-year fixed-rate mortgage averaged 2.30 percent with an average 0.7 point, down from last week when it averaged 2.34 percent. A year ago at this time, the 15-year FRM averaged 2.19 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.37 percent with an average 0.4 point, down from last week when it averaged 2.45 percent. A year ago at this time, the 5-year ARM averaged 2.79 percent.
For more information on daily mortgage interest rate movements, check with your mortgage lender. You may also find mortgage rate information online on sites like Mortgage News Daily.