The final Primary Mortgage Market Survey published in 2023 by Freddie Mac (OTCQB: FMCC) showed mortgage rates ringing out the year in a continued descent.
The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, down from last week when it averaged 6.67%. A year ago at this time, it averaged 6.42%.
The 15-year fixed-rate mortgage averaged 5.93%, down from last week when it averaged 5.95%. A year ago at this time, it averaged 5.68%.
“The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater, Freddie Mac’s chief economist. “Heading into the new year, the economy remains on firm ground with solid growth, a tight labor market, decelerating inflation, and a nascent rebound in the housing market.”
