“Mortgage rates decreased this week, reaching their lowest level since May of 2023,” said Sam Khater, Freddie Mac’s Chief Economist. “This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale.”

News Facts

• The 30-year FRM averaged 6.60 percent as of January 18, 2024, down from last week when it averaged 6.66 percent. A year ago at this time, the 30-year FRM averaged 6.15 percent.
• The 15-year FRM averaged 5.76 percent, down from last week when it averaged 5.87 percent. A year ago at this time, the 15-year FRM averaged 5.28 percent.

Houses that are priced, presented & marketed correctly are selling fast.

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