!--more-->For the week ended January 2, the 30-year fixed-rate mortgage averaged 3.72%, down from 3.74% the previous week and 4.51% a year ago. Similarly, the 15-year fixed-rate mortgage averaged 3.16%, down from 3.19% the previous week and 3.99% a year ago.

Throughout 2019, the 30-year rate averaged 3.9%, the fourth-lowest annual level since Freddie Mac started keeping track in 1971, the Associated Press reports.

“The combination of improved economic data and market sentiment has led to stability in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist, in a press release. “The low mortgage rate environment combined with the red-hot labor market is setting the stage for a continued rise in home sales and home prices.”