Mortgage Rates Decline 1/12/2023
3d image of house with graph falling
“While mortgage rates have resumed their decline, the market remains hypersensitive to rate movements, with purchase demand experiencing large swings relative to small changes in rates,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last few weeks, latent demand has been on display with buyers jumping in and out of the market as rates move.”
News Facts
- The 30-year fixed-rate mortgage averaged 6.33 percent as of January 12, 2023, down from last week when it averaged 6.48 percent. A year ago at this time, the 30-year FRM averaged 3.45 percent.
- The 15-year fixed-rate mortgage averaged 5.52 percent, down from last week when it averaged 5.73 percent. A year ago at this time, the 15-year FRM averaged 2.62 percent.
