Mortgage rates inched up slightly in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.09% as of Jan. 22, up from last week when it averaged 6.06%. A year ago at this time, it averaged 6.96%.
The 15-year fixed-rate mortgage averaged 5.44%, up from last week when it averaged 5.38%. A year ago at this time, it averaged 6.16%.
“With the economy improving and the average 30-year fixed-rate mortgage nearly a percentage point lower than last year, more homebuyers are entering the market,” said Sam Khater, Freddie Mac’s chief economist. “Buyers always should shop around for the best rate, as multiple quotes can potentially save them thousands.”
