Mortgage rates ended the year lower, according to the latest Freddie Mac Primary Mortgage Market Survey.

For the week ending December 27, the average 30-year fixed rate was 4.55 percent. The week before it was 4.62 percent. As recently as mid November, 30-year rates were averaging 4.94 percent.

“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,” said Sam Khater, Freddie Mac’s chief economist.
“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.”

The average rate on a 15-year fixed mortgage dropped from 4.07 percent to 4.01 percent last week. A year ago at this time, the 15-year rate averaged 3.44 percent.

Rates for 5-year adjustable rate mortgages rose slightly for the week. They averaged 4 percent during the most recent survey, up from 3.98 percent the week before. Last year’s 5-year ARM averaged 3.47 percent.