Another Welcomed Drop In Mortgage Interest Rates

 Freddie Mac today released the results of its Primary Mortgage Market Survey^® (PMMS^®) for the week ending 01/19/2023, showing the 30-year fixed-rate mortgage (FRM) averaged 6.15 percent.

“As inflation continues to moderate, mortgage rates declined again this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern.”

• 30-year fixed-rate mortgage averaged 6.15 percent as of January 19, 2023, down from last week when it averaged 6.33 percent. A year ago at this time, the 30-year FRM averaged 3.56 percent.
• 15-year fixed-rate mortgage averaged 5.28 percent, down from last week when it averaged 5.52 percent. A year ago at this time, the 15-year FRM averaged 2.79 percent.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit.

For more information on daily mortgage interest rate movements, check with your mortgage lender. You can also find information on daily mortgage rate movements online on sites such as Mortgage News Daily.