Freddie Mac reports 30-year mortgage rate at 6.22%

Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage averaged 6.22% as of December 11, according to its Primary Mortgage Market Survey.

The rate increased from 6.19% the previous week but remained below the year-to-date average of 6.62%. One year ago, the 30-year fixed-rate mortgage averaged 6.60%.

The 15-year fixed-rate mortgage averaged 5.54%, up from 5.44% the previous week. A year ago, the 15-year rate averaged 5.84%.

"The average 30-year fixed-rate mortgage is well below the year-to-date average of 6.62%, providing some sense of balance to the housing market," said Sam Khater, Freddie Mac's Chief Economist.

The survey focuses on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit, according to the press release statement.

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