Mortgage Rates Drop Below Five Percent 8/04/2022


“As inflation continues to moderate, mortgage rates declined again this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern.”

News Facts

  • The 30-year fixed-rate mortgage averaged 6.15 percent as of January 19, 2023, down from last week when it averaged 6.33 percent. A year ago at this time, the 30-year FRM averaged 3.56 percent.
  • The 15-year fixed-rate mortgage averaged 5.28 percent, down from last week when it averaged 5.52 percent. A year ago at this time, the 15-year FRM averaged 2.79 percent.

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Mike McNamara

Mike McNamara

A Las Vegas Realtor since 2008. Mike has a wide range of knowledge around all things Las Vegas.

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