Fixed Mortgage Rates Move Lower for Third Consecutive Week
Mortgage Rates Trend Down
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending January 26, 2023.
The 30-year fixed-rate mortgage averaged 6.13%, down from last week when it averaged 6.15%. A year ago at this time, the 30-year rate averaged 3.55%.
The 15-year fixed-rate mortgage averaged 5.17%, down from last week when it averaged 5.28%. A year ago at this time, the 15-year rate averaged 2.80%.
Adding additional background and his analysis, Sam Khater, Freddie Mac’s chief economist, said:
“Mortgage rates continue to tick down and, as a result, home purchase demand is thawing from the months-long freeze that gripped the housing market. Potential homebuyers remain sensitive to changes in mortgage rates, but ample demand remains, fuel by first-time homebuyers.”
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