The 30-year fixed-rate mortgage averaged 3.68% during the week ending Dec. 5, unchanged from the week before.
Mortgage rates didn’t budge much over the last week amid mixed signals as to the economy’s strength as the holiday season kicked into full drive.
Compared to a year ago, mortgage rates were more than a full percentage point lower. During this same week last year, the 30-year fixed-rate mortgage averaged 4.75%. Home buyers today are particularly rate-sensitive given the high cost of homes across the country. When rates increased at the beginning of 2019, home-buying activity decreased substantially. But this summer’s drop in rates helped spur an uptick in activity in the housing market, including both sales and home construction.
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