US Mortgage Rates Fall for Second Consecutive Week in the Week Ending February 6

Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, February 6.

The 30-year fixed-rate mortgage averaged 6.89%, down from last week when it averaged 6.95%. A year ago at this time, the 30-year rate averaged 6.64%.

The 15-year fixed-rate mortgage averaged 6.05%, down from last week when it averaged 6.12%. A year ago at this time, the 15-year rate averaged 5.90%.

Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:

“The 30-year fixed-rate mortgage decreased this week, now averaging 6.89%. Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing. Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what we saw a year ago, indicating some latent demand in the market.”