The average 30-year fixed mortgage rate fell to 6.06 percent this week, down from 6.16 percent last week and the lowest level since September 2022, according to Freddie Mac. A year ago, the 30-year fixed rate averaged 7.04 percent.

The average interest rate on a typical mortgage dipped to 6.06%, the lowest level since September 2022, according to Freddie Mac.

Mortgage application activity rebounded sharply last week as falling interest rates reignited refinance demand and kept homebuyers active, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 9,

The average 30-year fixed mortgage rate was 6.06% for the week ending January 15, according to Freddie Mac. The last time home borrowing rates were this low was September 2022.

MCLEAN, Va. -- The average long-term U.S. mortgage rate is now down to its lowest level in more than three years. The benchmark 30-year fixed rate mortgage rate eased to 6.06% this week, down from 6.16% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 7.04%.

Refinance demand was 128% higher than the same week one year ago as homeowners rushed to take advantage of sinking 30-year fixed mortgage rates, which fell to 5.87% on Monday.