U.S. Mortgage Rates Uptick in Early February

Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.64 percent as of February 8, 2023.

"Mortgage rates remain stagnant, hovering in the mid-six percent range over the past several weeks," said Sam Khater, Freddie Mac's Chief Economist. "The economy and labor market remain strong with wage growth outpacing inflation, which is keeping consumer spending robust. Meanwhile, affordability in the housing market is an ongoing issue due to continued high home prices, elevated mortgage rates and low supply of homes on the market, particularly for first-time and low-income homebuyers."

Freddie Mac News Facts

• The 30-year FRM averaged 6.64 percent as of February 8, 2024, up slightly from last week when it averaged 6.63 percent. A year ago at this time, the 30-year FRM averaged 6.12 percent.
• The 15-year FRM averaged 5.90 percent, down from last week when it averaged 5.94 percent. A year ago at this time, the 15-year FRM averaged 5.25 percent.

---

Related News Stories

Dubai, Palm Beach and Miami Lead World's Super Luxury Home Sales

Florida, Texas Condo Supply is Piling Up as Sales Slow

U.S. Office Landlords Tenant Concessions Decline for First Time in 4 Years

Affordability and U.S. Election Stalling U.S. Consumers Home Buying Decisions

World Property Markets, World Property Media to Commence Large Funding Rounds

Seattle, Orlando and New York Top Labor Day Destinations in 2024