Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
7.00%0.01
MortgageMortgage Rates

Freddie Mac: Mortgage rates cool off

Expert expects to see a modest rebound in home sales

After reaching a three-month low last week, mortgage rates cooled off further, according to the latest Freddie Mac Primary Mortgage Market Survey.

According to the survey, the 30-year fixed-rate mortgage inched backwards from 4.63% last week, averaging 4.62% for the week ending Dec. 20, 2018. This is still a significant increase from last year’s rate of 3.94%.

Freddie Mac Chief Economist Sam Khater said the response to the recent decline in mortgage rates is already being felt in the housing market.

“After declining for six consecutive months, existing home sales finally rose in October and November and are essentially at the same level as during the summer months,” Khater continued. “This modest rebound in sales indicates that homebuyers are very sensitive to mortgage rate changes – and given the further drop in rates we’ve seen this month, we expect to see a modest rebound in home sales as well.”

(click to enlarge)

Freddie Mac, Dec 20

The 15-year FRM averaged 4.07% this week, holding steady from last week’s average. This time last year, the 15-year FRM was 3.38%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.98%, retreating from 4.04% the week before. However, the rate is still higher than this time last year when it averaged 3.39%.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please