According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.10% in the week ending December 9, down one basis point from the previous week and well above the 2.71% rate at the same time last year.
Fed chair Jerome Powell recently said it would be “appropriate” for the central bank to discuss speeding up its tapering of bond purchases at the upcoming meeting, potentially meaning the Fed could hike interest rates by spring.