General World News

Mortgage rates fall to 3.05% amid Omicron fears

The average 30-year-fixed rate mortgage dropped to 3.05% during the week ending Dec. 23, after achieving 3.12% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.66%.

The 15-year-fixed-rate mortgage averaged 2.30% last week, declining from 2.34% the week prior. A year ago at this time, it averaged 2.19%. Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 1.46% on Wednesday, down from 1.47% a week before.

The report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down details ⇒

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