Mortgage Rates Continue Downward Trend

“Mortgage rates continue to tick down and, as a result, home purchase demand is thawing from the months-long freeze that gripped the housing market,” said Sam Khater, Freddie Mac’s Chief Economist. “Potential homebuyers remain sensitive to changes in mortgage rates, but ample demand remains, fueled by first-time homebuyers.”

News Facts

• The 30-year fixed-rate mortgage averaged 6.13 percent as of January 26, 2023, down from last week when it averaged 6.15 percent. A year ago at this time, the 30-year FRM averaged 3.55 percent.
• The 15-year fixed-rate mortgage averaged 5.17 percent, down from last week when it averaged 5.28 percent. A year ago at this time, the 15-year FRM averaged 2.80 percent.