By Robert Howe
•
08 Dec, 2023
At long last, the housing market might be thawing just as we head into what’s usually a seasonal deep freeze. Mortgage rates plunged for the sixth week in a row, to 7.03% for a 30-year fixed home loan in the week ending Dec. 7, according to averages tabulated by Freddie Mac. This welcome news comes on the heels of rates recently reaching a high in late October not seen in 23 years. “The 30-year fixed-rate mortgage averaged near 7% this week, down from nearly 7.8% just six weeks ago,” says Sam Khater, Freddie Mac’s chief economist. https://www.realtor.com/news/trends/mortgage-rates-just-dropped-to-near-7-but-homebuyers-had-better-hurry-up/