According to new data from Freddie Mac, the average 30-year fixed-rate U.S. mortgage reached its lowest level since August during the week ending Dec. 7.
This week’s mortgage rate fell to 7.03%, down from 7.22% the week prior.
In comparison, the average 30-year fixed-rate mortgage sat at 6.33% exactly one year ago.
The multi-month low marks the six consecutive week the U.S. mortgage rate has dropped after seven weeks of consistent increases.
