Mortgage rates increase slightly
Freddie Mac Thursday released the results of its Primary Mortgage Market Survey (PMMS®), 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,” Khater siad.
- 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.