Mortgage rates end 2024 on a high note – unfortunately for the housing market
In the week ending Dec. 26, the 30-year fixed-rate mortgage averaged 6.85%, mortgage guarantor Freddie Mac said Thursday. The popular loan product averaged 6.72% throughout the year, compared to 6.81% throughout 2023, even as the Federal Reserve cut its benchmark interest rate three times in 2024.
30-Year Mortgage Rates Hit 5-Month High-Water Mark
After ebbing slightly at the end of last week, 30-year mortgage rates surged to a five-month high. Rate movement was mixed across other loan types.
Mortgage rates rise for second straight week, highest since July
This week’s increase marked the highest level on the 30-year loan since mid-July, when the rate was 6.89%, according to Freddie Mac data. The lowest rate this year was 6.08% at the end of September, while the highest — 7.22% — was reached at the beginning of May.
Mortgage rates rise to close out 2024
Mortgage rates rise to close out 2024. Freddie Mac cites an "overwhelming undersupply of homes" for the 6.85% interest rate.
Mortgage Rates Tick Back Up, Nearing Highest Level Since July
After retreating slightly, 30-year mortgage rates are back on the rise, edging back up to approach a five-month high. Rate movement was up for most other loan types as well.
Average Rate for 30-Year Mortgage Rises to Highest Level in Months
Borrowing costs on a 30-year home loan increased to 6.85 percent from 6.72 percent last week, mortgage buyer Freddie Mac says.
Average rate on a 30-year mortgage climbs to 6.85%, highest since July
The average rate on a 30-year mortgage in the U.S. rose for the second straight week to its highest level since mid-July, reflecting a recent jump in the bond yields that lenders use as a guide to pri
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