Mortgage Rates Rise For Second Straight Week

(RTTNews) - Mortgage rates, or interest rates on home loans, increased for second consecutive week after dropping for three straight weeks, according to mortgage provider Freddie Mac (FMCC.OB).

The 30-year FRM averaged 6.85 percent as of December 26, 2024, up from last week when it averaged 6.72 percent. A year ago at this time, the 30-year FRM averaged 6.61 percent.

The 15-year FRM averaged 6.00 percent, up from last week when it averaged 5.92 percent. A year ago at this time, the 15-year FRM averaged 5.93 percent.

"Mortgage rates increased for the second straight week, rebounding after a decline from earlier this month," said Sam Khater, Freddie Mac's Chief Economist. "While a slight improvement in new and existing home sales is encouraging, the market remains plagued by an overwhelming undersupply of homes. A strong economy can help build momentum heading into the new year and potentially boost purchase activity."