US Mortgage Rates Increase in the Week Ending January 2
Mortgage Rates Reach Highest Point Since July
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, January 2.
The 30-year fixed-rate mortgage averaged 6.91%, up from last week when it averaged 6.85%. A year ago at this time, the 30-year rate averaged 6.62%.
The 15-year fixed-rate mortgage averaged 6.13%, up from last week when it averaged 6.00%. A year ago at this time, the 15-year rate averaged 5.89%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Inching up to just shy of 7%, mortgage rates reached their highest point in nearly six months. Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.”
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