Mortgage Interest Rates Continued Downward Trend This Week.

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®) for the week ending 01.26.2023, showing the 30-year fixed-rate mortgage (FRM) averaged 6.13 percent.

“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.”

• 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.
• 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.

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

Check with your mortgage lender for more information on daily mortgage interest rate movements. Of you can find information online on sites such as Mortgage News Daily.