As the year comes to a close, mortgage rates remain high. Although the situation is improving, rates remain high enough to keep the housing market jittery. The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve has cut interest rates three times this year, which should impact the housing market. However, mortgage rates don’t necessarily follow interest rates. As of Dec. 24, the average 30-year fixed-rate mortgage rate had dropped by three basis points to 6.2%, lower than a year earlier. How ...