The weekly mortgage rate on a 30-year fixed-rate mortgage fell to 6.18 percent for the week ending Dec. 24 as the housing market continues to lean in favor of buyers.
The 6.18 percent rate is the lowest level since late October and a slight decline from 6.21 percent the previous week, according to Freddie Mac data. The current rate is 0.86 percentage points below the yearly peak of 7.04 percent reached in mid-January.
The recent rate decline comes as the U.S. housing market registered 37.2 percent more sellers than buyers in November, real estate brokerage Redfin said in a statement on Dec. 23.
“That’s the largest gap in records dating back to 2013 aside from this summer. It compares with 35.6 percent a month earlier and 17 percent a year earlier,” the brokerage said….