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Mortgage Rate Optimism Increased in December

  • January 9th 2024

by UrbanTurf Staff

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As long-term mortgage rates dropped over the last several weeks, potential homebuyers took notice. 

The Fannie Mae home Purchase Sentiment Index rose about 3 points in December, as the result of a rise in the share of consumers that expect mortgage rates to go down over the next year. 

"In December, a survey-high 31% of consumers indicated that they expect mortgage rates to go down, while 31% expect them to go up, and 36% expect rates to remain the same," the survey found. 

Last week, Freddie Mac reported 6.62% as the average on a 30-year mortgage, notably lower than when they reached 7.8% back in October.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rate_optimism_increased_in_december/21841.

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