Mortgage Rates Continue to Rise

MCLEAN, Va., Dec. 26, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.85 percent.

“Mortgage rates increased for the second straight week, rebounding after a decline from earlier this month,” said Sam Khater, Freddie Mac’s Chief Economist. “While a slight improvement in new and existing home sales is encouraging, the market remains plagued by an overwhelming undersupply of homes. A strong economy can help build momentum heading into the new year and potentially boost purchase activity.”

News Facts

• The 30-year FRM averaged 6.85 percent as of December 26, 2024, up from last week when it averaged 6.72 percent. A year ago at this time, the 30-year FRM averaged 6.61 percent.
• The 15-year FRM averaged 6.0 percent, up from last week when it averaged 5.92 percent. A year ago at this time, the 15-year FRM averaged 5.93 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Mollie Laniado
(571)382-1784
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0912513b-02a3-4155-963f-3ad39df6e78c

Source: Freddie Mac

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