Mortgage Rates Sink to Three-Month Lows

December 14, 2018

Mortgage rates for 30, 15, ARM. Full information at

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Home shoppers and refinancers saw some relief in mortgage borrowing costs this week. The 30-year fixed-rate mortgage moved to its lowest average since mid-September, Freddie Mac reports.

“Mortgage rates have either fallen or remained flat for five consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates,” says Sam Khater, Freddie Mac’s chief economist. “While the housing market softened in response to higher rates through most of this year, the combination of a low unemployment and recent downdraft in rates should support home sales heading into the early winter months.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 13:

  • 30-year fixed-rate mortgages: averaged 4.63 percent, with an average 0.5 point, falling from last week’s 4.75 percent average. Last year at this time, 30-year rates averaged 3.93 percent.
  • 15-year fixed-rate mortgages: averaged 4.07 percent, with an average 0.5 point, falling from last week’s 4.21 percent average. A year ago, 15-year rates averaged 3.36 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 4.04 percent, with an average 0.3 point, falling from last week’s 4.07 percent average. A year ago, 5-year ARMs averaged 3.36 percent.