MCLEAN, Va.--The 30-year fixed-rate mortgage remained stable this past week, averaging 6.16%, Freddie Mac reported.
“In the first full week of the new year, mortgage rates remained within a narrow range, hovering close to the 6% mark,” said Sam Khater, Freddie Mac’s chief economist. “The combination of solid economic growth and lower rates has led to improving momentum in for-sale residential demand, with purchase applications up over 20% from a year ago.”
The 30-year FRM averaged 6.16% as of Jan. 8, up slightly from last week when it averaged 6.15%. A year ago at this time, the 30-year FRM averaged 6.93%. The 15-year FRM averaged 5.46%, up from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 6.14%, Freddie Mac said.