General World News

A sub-7% mortgage rate brings holiday cheer

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday.

The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. 14, according to Freddie Mac‘s Primary Mortgage Market Survey. That’s down from last week’s 7.03% and up from 6.31% the same week a year ago.

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.9% on Thursday. On Mortgage News Daily, the average 30-year-fixed rate details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com