Mortgage rates in the USA have fallen for the third consecutive week. According to a statement from Freddie Mac, the average rate for a 30-year fixed mortgage is 6.6%, down from last week's 6.69%. Data from Redfin Corp. for the four weeks ending December 8 shows that homebuyers have been making progress in recent weeks, with purchase contracts up 4.1% year-on-year. However, the brokerage noted that affordability remains a challenge as rates are still high and the median sales price has increased by 6% year-on-year. "Demand is adapting to the new normal after the elections," said Chen Zhao, the head of economic research at Redfin.