FX.co ★ US Mortgage Rates Edge Marginally Higher

As of January 29th, the average interest rate for a 30-year fixed-rate mortgage has increased to 6.1%, marking a second consecutive weekly rise from the 6.06% rate recorded since its lowest point in September 2022, as reported by Freddie Mac. According to Sam Khater, Freddie Mac's chief economist, "Mortgage rates are currently close to their lowest in three years. This is promising for prospective homebuyers who have been hesitant to enter the market. The combination of lower rates and strong income growth has led to a significant uptick in purchase applications compared to the previous year. Additionally, more homeowners are taking advantage of the lower rates to refinance their mortgages, evidenced by the increase in refinance applications over the past year."