Phiwath Jittamas
Long-term mortgage rates continue a downward trajectory, but potential homebuyers remain sensitive to changes, according to the Freddie Mac Primary Mortgage Survey.
30-year fixed-rate mortgage averaged 6.13% for the week ending Jan. 26, down from last week when it averaged 6.15% and higher than 3.55% a year ago.
15-year fixed-rate mortgage averaged 5.17%, down from last week when it averaged 5.28% and higher from 2.80% a year ago.
“Mortgage rates continue to tick down and, as a result, home purchase demand is thawing from the months-long freeze that gripped the housing market,” said Chief Economist Sam Khater.
“Potential homebuyers remain sensitive to changes in mortgage rates, but ample demand remains, fueled by first-time homebuyers,” Khater added.
Here is a look at the last one year mortgage rates movement: