Average Long-Term U.S. Mortgage Rate Lowest Since September
It was reported for the week ending on Jan. 20, 2023 that the average U.S. long-term 30-year mortgage rate had dropped from 6.33 percent to 6.13 percent.
According to AP News, though home prices have retreated as demand has declined, they are still nearly 11% higher than a year ago. Higher prices and a doubling of mortgage rates have made home buying much less affordable for many people, but recent rate declines could give some homebuyers new hope.
