Fixed Mortgage Rates Inch Higher
Mortgage Rates Increase Slightly
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending February 9, 2023. According to the survey, the 30-year fixed-rate mortgage averaged 6.12%, up from last week when it averaged 6.09%. A year ago at this time, the 30-year rate averaged 3.69%.
The 15-year fixed-rate mortgage averaged 5.25%, up from last week when it averaged 5.14%. A year ago at this time, the 15-year rate averaged 2.93%.
Adding additional background and analysis to this week’s report, Sam Khater, Freddie Mac’s Chief Economist, said:
“Following an interest rate hike from the Federal Reserve and a surprisingly strong jobs report, mortgage raced increases slight this week. The 30-year fixed-rate continues to hove close to 6%, and interested homebuyers are easing their way back to the market just in time for the spring homebuying season.”
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