Mortgage Interest Rates Update for December 21, 2022

Interest rates continue to move downward as we go into the holiday season.

Even though the Fed announced another half of a percent increase in the lending rate, we are still seeing mortgage interest rates moving downward.

Let’s take a look at this week’s interest rates:

30-year mortgage rate: 6.52%
The average 20-year fixed-rate mortgage currently sits at 6.18%
The average 15-year fixed-rate mortgage currently sits at 5.85%
10-year fixed mortgage rates are averaging 5.75%
5/1 ARM rate: 5.45%