Decline in fixed mortgage rates continues unabated

This holiday season has brought good news for anyone looking to buy a house or refinance a mortgage.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dipped to 4.55 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.62 percent a week ago and 3.99 percent a year ago.

The 15-year fixed-rate average slipped to 4.01 percent with an average 0.4 point. It was 4.07 percent a week ago and 3.44 percent a year ago. The five-year adjustable rate average ticked up to 4 percent with an average 0.3 point. It was 3.98 percent a week ago and 3.47 percent a year ago.

“Rates continued their two-month slide and are currently hovering around the same level as the early summer, which was before the deterioration in home sales,” Sam Khater, Freddie Mac chief economist, said in a statement. “The negative headlines around the financial markets are concerning but the economy remains healthy, so the drop in mortgage rates should stem or even reverse the slide in home sales that occurred during the second half of 2018.”

Since peaking at 4.94 percent in early November, its highest level in seven years, the 30-year fixed-rate average has trended downward even as the Federal Reserve has continued to hike shortterm interest rates. The central bank doesn’t set mortgage rates, but its actions influence them.