‘Lower Mortgage Rates’ Give Buyers Some Relief

Great news to share! For the second consecutive week, fixed-rate mortgages moved lower, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages for the week ending Jan. 23:

  • 30-year fixed-rate mortgages averaged 4.39 percent, dropping from last week’s 4.41 percent average, with an average 0.7 point. Last year at this time, 30-year rates averaged 3.42 percent.
  • 15-year fixed-rate mortgages averaged 3.44 percent, dropping from last week’s 3.45 percent average, with an average 0.7 point. A year ago at this time, 15-year rates averaged 2.71 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.15 percent, rising from last week’s 3.10 percent average, with an average 0.5 point. Last year at this time, 5-year ARMs averaged 2.67 percent.

Source: Freddie Mac