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Interest Rates Fell Again At End of 2023

  • January 2nd

by UrbanTurf Staff

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As 2023 came to a close, long-term mortgage rates fell again.

Last Thursday, Freddie Mac reported 6.61% as the average on a 30-year mortgage, down 6 basis points week over week. Rates are now at their lowest level since last summer. 

“The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down,” said Sam Khater, Freddie Mac’s Chief Economist. “Heading into the new year, the economy remains on firm ground with solid growth, a tight labor market, decelerating inflation, and a nascent rebound in the housing market.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/interest_rates_fell_again_at_end_of_2023/21818.

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