Fixed-Rate Mortgages Climb in the Week Ending January 25th

Freddie Mac has released its Primary Mortgage Market Survey® for the week ending January 25th.

The 30-year fixed-rate mortgage averaged 6.69%, up from last week when it averaged 6.60%. A year ago at this time, the 30-year rate averaged 6.13%.

The 15-year fixed-rate mortgage averaged 5.96%, up from last week when it averaged 5.76%. A year ago at this time, the 15-year rate averaged 5.17%.

In remarks accompanying the survey results, Freddie Mac Chief Economist Sam Khater said:

“The 30-year fixed-rate has remained within a very narrow range over the last month, settling in at 6.69% this week. Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market. Despite persistent inventory challenges, we anticipate a busier spring homebuying season than 2023, with home prices continuing to increase at a steady pace.”

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