US mortgage rates fall to lowest level since September 2022

Mortgage rates down to 6.09% last week, while applications rise 0.4% compared to previous week

By Mucahithan Avcioglu

ISTANBUL (AA) - The average interest rate for a 30-year mortgage in the US declined to 6.09% last week, marking its lowest level since September 2022.

The total mortgage applications increased by 0.4% at the week ending on Jan. 20, compared to the previous week, according to data from Mortgage Bankers Association (MBA) released Wednesday.

During the same period, applications for home purchases fell by 5%, while refinancing applications climbed 4%.

The average interest rate for a 30-year mortgage dropped from 6.17% to 6.09%.

Meanwhile, the average rate for a 15-year mortgage edged down from 5.50% to 5.48%.

Joel Kan, vice president of the MBA, said mortgage rates declined last week in line with Treasury yields, adding that the average 30-year mortgage rate has reached its lowest point since September 2022.

Kaynak:

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