Mortgage rates, which refer to the interest charges on home loans, have increased this week after experiencing three successive weeks of reductions, as reported by mortgage provider Freddie Mac.
As of December 19, 2024, the average rate for a 30-year fixed-rate mortgage (FRM) rose to 6.72 percent, compared to 6.60 percent the previous week. At the same point last year, the 30-year FRM was 6.67 percent.
Similarly, the 15-year FRM also saw an increase, averaging 5.92 percent, up from the prior week's average of 5.84 percent. A year earlier, this rate stood at 5.95 percent.
"Mortgage rates have edged up this week to levels comparable with those of 2023," noted Sam Khater, Chief Economist at Freddie Mac. "Over the past year, rates have generally hovered between 6 and 7 percent. Homebuyers are gradually becoming accustomed to these elevated rates and are slowly resuming their home purchasing activities, leading to a slight uptick in buying interest."
The material has been provided by InstaForex Company -
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