Mortgage rates dropped slightly in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.21% as of Dec. 18, down slightly from last week when it averaged 6.22%. A year ago at this time, it averaged 6.72%.
The 15-year fixed-rate mortgage averaged 5.47%, down from last week when it averaged 5.54%. A year ago at this time, it averaged 5.92%.
“The average 30-year fixed-rate mortgage has remained within a narrow 10-basis point range over the last two months,” said Sam Khater, Freddie Mac’s chief economist. “With rates down half a percent over last year, purchase applications are 10% above the same time one year ago.”
