Sam Khater, Freddie Mac’s chief economist, said in a statement that the consistency of rates, in the face of changes in the economy, is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. “This low mortgage rate environment offers favorable conditions for refinancing,” he added.
Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 1.43% on Dec. 1, down from 1.54% a week before.