Recent Weekly Mortgage Rates

Yearly Comparison of Mortgage Rates

12/20/20231 min read

Mortgage Rates Drop Below Seven Percent

From Primary Mortgage Market Survey as of December 14, 2023

The below in-house developed chart developed from the Freddie Mac Primary Market Survey compares each year from 2018 to 2023 for every week. It colorfully illustrates the overall yearly trend of 30-year fixed-rate Conventional Mortgage Rates to aid in visualizing the cost of borrowing trends.

Potential homebuyers received welcome news this week as mortgage rates dropped below seven percent for the first time since August. Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, there will likely be a gradual thawing of the housing market in the new year.