U.S. Mortgage Rates End 2023 on the Decline

Mortgage rates decline 9 weeks in a row in late December

Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.61 percent as of December 28, 2023.

Sam Khater

"The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down," said Sam Khater, Freddie Mac's Chief Economist. "Heading into the new year, the economy remains on firm ground with solid growth, a tight labor market, decelerating inflation, and a nascent rebound in the housing market."

Freddie Mac News Facts

• The 30-year FRM averaged 6.61 percent as of December 28, 2023, down from last week when it averaged 6.67 percent. A year ago at this time, the 30-year FRM averaged 6.42 percent.
• The 15-year FRM averaged 5.93 percent, down from last week when it averaged 5.95 percent. A year ago at this time, the 15-year FRM averaged 5.68 percent.

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