Mortgage Rates Trend Up
“In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners.”
News Facts
- The 30-year FRM averaged 6.93 percent as of January 9, 2025, up from last week when it averaged 6.91 percent. A year ago at this time, the 30-year FRM averaged 6.66 percent.
- The 15-year FRM averaged 6.14 percent, up from last week when it averaged 6.13 percent. A year ago at this time, the 15-year FRM averaged 5.87 percent.
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