Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.09 percent.
“Mortgage rates inched down again, with the 30-year fixed-rate down nearly a full point from November, when it peaked at just over seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “According to Freddie Mac research, this one percentage point reduction in rates can allow as many as three million more mortgage-ready consumers to qualify and afford a $400,000 loan, which is the median home price.”
- 30-year fixed-rate mortgage averaged 6.09 percent as of February 2, 2023, down from last week when it averaged 6.13 percent. A year ago at this time, the 30-year FRM averaged 3.55 percent.
- 15-year fixed-rate mortgage averaged 5.14 percent, down from last week when it averaged 5.17 percent. A year ago at this time, the 15-year FRM averaged 2.77 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 broker. You can so find mortgage rate information on online sites such as Mortgage News Daily.