US Mortgage Rates Retreat in the Week Ending January 23
Mortgage Rates Drop Below Seven Percent
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, January 23.
The 30-year fixed-rate mortgage averaged 6.96%, down from last week when it averaged 7.04%. A year ago at this time, the 30-year rate averaged 6.69%.
The 15-year fixed-rate mortgage averaged 6.16%, down from last week when it averaged 6.27%. A year ago at this time, the 15-year rate averaged 5.96%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“After crossing the 7%-mark last week, the 30-year fixed-rate mortgage saw its first decline in six weeks. While affordability challenges remain, this is welcome news for potential homebuyers, as reflected in a corresponding uptick in purchase applications.”
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