Friday, December 22, 2023 / by Richard Eimers
Embracing Positive Momentum: Home Loan Costs Reach Six-Month Low
In a promising turn of events, home loan financing costs have once again decreased, driving the average long-term U.S. mortgage rate to a six-month low.
1. Encouraging Rate Drops:
The average 30-year mortgage rate has seen a notable decline, dropping from 6.95% to a current 6.67%, marking the eighth consecutive week of decreases and returning to levels seen in late June.
2. Welcoming Trends:
Chief Economist Sam Khater of Freddie Mac highlights the positive trend, emphasizing that the 30-year fixed-rate mortgage remains below 7% for the second consecutive week, breaking a streak of 17 weeks above 7%.
3. Beneficial Shift for Homeowners:
Borrowing costs for 15-year fixed-rate mortgages, popular among homeowners refinancing, have also decreased, with the average rate now at 5.95%, fostering an optimistic outlook for potential homebuyers.
4. Market Recovery Anticipated:
Mortgage rates have been on a easing trajectory since late October ...
1. Encouraging Rate Drops:
The average 30-year mortgage rate has seen a notable decline, dropping from 6.95% to a current 6.67%, marking the eighth consecutive week of decreases and returning to levels seen in late June.
2. Welcoming Trends:
Chief Economist Sam Khater of Freddie Mac highlights the positive trend, emphasizing that the 30-year fixed-rate mortgage remains below 7% for the second consecutive week, breaking a streak of 17 weeks above 7%.
3. Beneficial Shift for Homeowners:
Borrowing costs for 15-year fixed-rate mortgages, popular among homeowners refinancing, have also decreased, with the average rate now at 5.95%, fostering an optimistic outlook for potential homebuyers.
4. Market Recovery Anticipated:
Mortgage rates have been on a easing trajectory since late October ...
