US Mortgage Rates Inch Lower in the Week Ending January 30
Mortgage Rates Show Little Movement
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, January 30.
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.96%. A year ago at this time, the 30-year rate averaged 6.63%.
The 15-year fixed-rate mortgage averaged 6.12%, down from last week when it averaged 6.16%. A year ago at this time, the 15-year rate averaged 5.94%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%. Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.”
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