Mortgage Rates Drop Below Five Percent 8/04/2022


“The 30-year fixed-rate mortgage averaged nearly 7 percent this week, down from nearly 7.80 percent just six weeks ago,” said Sam Khater, Freddie Mac’s Chief Economist. “When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the last week. Although these lower rates remain a welcome relief, it is clear they will have to further drop to more consistently reinvigorate demand.”

News Facts

  • The 30-year FRM averaged 7.03 percent as of December 7, 2023, down from last week when it averaged 7.22 percent. A year ago at this time, the 30-year FRM averaged 6.33 percent.
  • The 15-year FRM averaged 6.29 percent, down from last week when it averaged 6.56 percent. A year ago at this time, the 15-year FRM averaged 5.67 percent.

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.





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Mike McNamara

Mike McNamara

A Las Vegas Realtor since 2008. Mike has a wide range of knowledge around all things Las Vegas.

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