As of Dec. 22, 30-year fixed-rate mortgages averaged 6.27 percent, according to data released Thursday by Freddie Mac.

That's down four basis points from the previous week, with one basis point equaling one percent.

Interest rates have fallen for the sixth consecutive week.

Interest rates last reached this level in mid-September.

Last week, the 30-year rate was 6.31 percent. Last year, the average 30-year rate was 3.05 percent.

Rates are much lower than a month ago, when the 30-year rate averaged above 7%.

The average rate for the 15-year mortgage rose to 5.69 percent.

"Interest rates have fallen sharply over the past six weeks, which is helpful to potential homebuyers," Sam Khater, Freddie Mac's chief economist, said in a statement.

But "new data suggest that homeowners are hesitant to list their homes," he added.

"Many of these homeowners are carefully weighing their options, as more than two-thirds of them now have fixed mortgage rates below 4 percent," Khater explained.

Homebuyers are taking advantage of falling interest rates to refinance their mortgages.

Demand for refinancing jumped 6 percent in the most recent week, according to the Mortgage Bankers Association.

Falling interest rates have helped homeowners. the MBA said in a separate report that the national median mortgage payment has fallen from $2,012 in October to $1,977 in November. Mortgage payments have increased by nearly $600 in the first 11 months of the year.

The MBA said it expects the housing market and the U.S. economy to "remain volatile through early 2023." It also expects mortgage rates to continue to fall back.

The yield on the 10-year Treasury note fell below 3.67 percent in Thursday's afternoon trading session.