Freddie Mac released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage (FRM) averaged 6.69%.
“The 30-year fixed-rate has remained within a very narrow range over the last month, settling in at 6.69% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market. Despite persistent inventory challenges, we anticipate a busier spring homebuying season than 2023, with home prices continuing to increase at a steady pace.”
The 30-year FRM averaged 6.69% as of January 25, 2024, up from last week when it averaged 6.60%. A year ago at this time, the 30-year FRM averaged 6.13%.
The 15-year FRM averaged 5.96%, up from last week when it averaged 5.76%. A year ago at this time, the 15-year FRM averaged 5.17%.
