Overview
- Freddie Mac’s survey shows the 30-year fixed average at 6.06% for the week ending January 15, the lowest weekly reading since September 2022, with the 15-year at 5.38%.
- President Trump’s directive to purchase $200 billion in mortgage-backed securities boosted MBS demand and helped push rates lower in the short term, according to industry reports and experts.
- Borrower activity jumped on the decline, with refinance applications up about 40% and purchase applications up roughly 16% from the prior week, Mortgage Bankers Association data show.
- Other trackers indicated brief dips near or below 6% during the week, though economists note that Fed independence, GSE portfolio caps and broader market forces will steer durability.
- Housing indicators are improving with recent gains in existing-home sales, but prices remain elevated and affordability challenges persist even as rates ease.