Mortgage rates tick up but remain low in final days of 2021
ABC News
Average long-term U.S. mortgage rates moved slightly higher in the final week of 2021
SILVER SPRING, Md. -- Average long-term U.S. mortgage rates moved slightly higher in the final week of 2021.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan ticked up to 3.11% this week from 3.05% last week. A year ago, the 30-year rate stood at 2.67%.
The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, rose to 2.33% from 2.3% last week. It was 2.17% a year ago.
Many economists expect rates to rise next year after the Federal Reserve announced earlier this month that it would begin dialing back its monthly bond purchases — which are intended to lower long-term rates — to combat accelerating inflation. But even with the expected three rate increases next year, the Fed's benchmark rate would still be below 1%.
