{"id":1778269,"date":"2022-12-17T06:14:07","date_gmt":"2022-12-17T11:14:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1778269"},"modified":"2022-12-17T06:18:29","modified_gmt":"2022-12-17T11:18:29","slug":"mortgage-rates-drop-for-fifth-straight-week-but-are-still-more-than-double-what-they-were-a-year-ago","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mortgage-rates-drop-for-fifth-straight-week-but-are-still-more-than-double-what-they-were-a-year-ago\/","title":{"rendered":"Mortgage Rates Drop for Fifth Straight Week But Are Still More Than Double What They Were a Year Ago"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmortgage-rates-drop-for-fifth-straight-week-but-are-still-more-than-double-what-they-were-a-year-ago%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1778269&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/justthenews.com\/sites\/default\/files\/styles\/social_media_share\/public\/2022-10\/GettyImages-77332452.jpg?h=6d9cd77a&#038;itok=1Gygyf5F\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>Mortgage rates continued a slow but steady decline over the past week, suggesting a small but notable reversal from the meteoric rise they underwent over the past year.\u00a0<\/p>\n<p>Thirty-year fixed mortgage rates &#8220;averaged 6.31 percent as of December 15, 2022, down from last week when it averaged 6.33 percent,&#8221; Freddie Mac <a href=\"https:\/\/freddiemac.gcs-web.com\/news-releases\/news-release-details\/mortgage-rates-continue-their-downward-trajectory?_ga=2.31659256.799149206.1671125219-5394444.1671125219&#038;_gac=1.125776632.1671125344.Cj0KCQiAqOucBhDrARIsAPCQL1YRIj_OlpEvPWjZ9fxpxqto-DhsvwfH3KPfeoWG_DIEVOXB0JECyQcaAqEtEALw_wcB&#038;_gl=1*d9qvqp*_gcl_aw*R0NMLjE2NzExMjUyMTkuQ2owS0NRaUFxT3VjQmhEckFSSXNBUENRTDFZUklqX09scEV2UFdqWjlmeHB4cXRvLURoc3Z3ZkgzS1BmZW9XR19ESUVWT1hCMEpFQ3lRY2FBcUV0RUFMd193Y0I.\">said in its weekly rate update on Thursday.<\/a><\/p>\n<p>Fifteen-year rates, meanwhile, averaged 5.54%, down from 5.67% last week.<\/p>\n<p>Both rates remain more than doubled from a year ago, with 30-year rates at this time in 2021 at 3.12% and 15-year rates at 2.34%.\u00a0<\/p>\n<p>\u201cMortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve\u2019s monetary policy reverberated through the economy,\u201d Freddie Mac Chief Economist Sam Khater said in the release.<\/p>\n<p>\u201cThe good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand,&#8221; Khater said. &#8220;The bad news is that demand remains very weak in the face of affordability hurdles that are still quite high.\u201d<\/p>\n<p>The mortgage rate decline comes as the Federal Reserve <a href=\"https:\/\/justthenews.com\/nation\/economy\/federal-reserve-interest-rate-hike\">moves to raise overall interest rates half a percentage point higher<\/a> in its ongoing efforts to stem inflation in the U.S. economy.\u00a0<\/p>\n<p>The Fed said on Wednesday that it &#8220;<meta \/>anticipates that ongoing increases in the target range will be appropriate&#8221; in order to keep inflation in a targeted low range.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage rates continued a slow but steady decline over the past week, suggesting a small but notable reversal from the meteoric rise they underwent over the past year.\u00a0Thirty-year fixed mortgage<\/p>\n","protected":false},"author":1,"featured_media":1778272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[5458,4534,5053,9820,6009,3819,9819,3912],"class_list":["post-1778269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bongino","tag-double","tag-drop","tag-mortgage","tag-rates","tag-report","tag-straight","tag-week"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1778269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1778269"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1778269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1778272"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1778269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1778269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1778269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}