Mortgage Rates Drop Below The 7% Mark
WRE News December 17, 2023
Buyer
WRE News December 17, 2023
Buyer
The 30-year fixed-rate mortgage dropped below the 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The product averaged 6.95% as of Dec. 14. Last week, was at 7.03%, and one year ago at this time it averaged 6.31%.
The 15-year fixed-rate mortgage averaged 6.38%, up from last week when it averaged 6.29%.A year ago at this time, it averaged 5.54%.
“Potential homebuyers received welcome news this week as mortgage rates dropped below seven percent for the first time since August,” said Sam Khater, Freddie Mac’s chief economist. “Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year.”
Stay up to date on the latest real estate trends.
Seller
December 26, 2025
When your house doesn’t sell, it does more than disrupt your plans, it hits close to home.
Seller
December 23, 2025
Hearing talk about home prices falling? That may leave you worried about whether your house is losing value.
Seller
December 19, 2025
The housing market hasn’t felt this energized in a long time – and the numbers backing that up are hard to ignore.
Buyer
December 18, 2025
You may not want to put your homebuying plans into hibernation mode this winter.
December 18, 2025
Buyer
December 16, 2025
One of the biggest homebuying advantages you can give yourself today is surprisingly simple: a flexible wish list.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today