After a month of declining rates, mortgage rates experienced a slight increase according to Freddie Mac’s weekly survey. The 30-year fixed-rate mortgage averaged 5.68% during the week ending Jan. 31, up from last week’s 5.48%. The mortgage averaged 6.34% a year ago. The 15-year fixed-rate mortgage averaged 5.17%, up from 4.95%. The mortgage averaged 6.06% a year ago. Still, rates are significantly lower than in years past and times seem opportune for qualified buyers and some folks looking to refinance.
Tags: mortgage