Slight Tick-up in Mortgage Rates

Freddie Mac today released the results of its Primary Mortgage Market Survey^® (PMMS^®) for the week ending February 09, 2023, showing the 30-year fixed-rate mortgage (FRM) averaged 6.12 percent.

“Following an interest rate hike from the Federal Reserve and a surprisingly strong jobs report, mortgage rates increased slightly this week,” said Sam Khater, Freddie Mac’s Chief Economist. “The 30-year fixed-rate continues to hover close to six percent, and interested homebuyers are easing their way back to the market just in time for the spring homebuying season.”

• 30-year fixed-rate mortgage averaged 6.12 percent as of February 9, 2023, up from last week when it averaged 6.09 percent. A year ago at this time, the 30-year FRM averaged 3.69 percent.
• 15-year fixed-rate mortgage averaged 5.25 percent, up from last week when it averaged 5.14 percent. A year ago at this time, the 15-year FRM averaged 2.93 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 loan officer for more information on daily mortgage interest rate movements. You may also find information on online sites such as Mortgage News Daily.