MCLEAN, Va.--The 30-year fixed-rate mortgage remained low this week, averaging 6.10%, Freddie Mac reported.
“Mortgage rates remain near their lowest levels in three years, which is encouraging for potential homebuyers who have waited to enter the market for some time,” said Sam Khater, Freddie Mac’s chief economist. “Lower rates, combined with strong income growth, have led to a steady increase in purchase applications compared to last year. We’re also seeing more homeowners refinancing their mortgages to benefit from these lower rates, as shown by the rise in refinance applications over the past year.”
The 30-year FRM averaged 6.10% as of Jan. 29, up slightly from last week when it averaged 6.09%. A year ago at this time, the 30-year FRM averaged 6.95%. The 15-year FRM averaged 5.49%, up from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 6.12%, Freddie Mac said.