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.

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,

Fannie Mae’s latest housing forecast projected the average 30-year fixed mortgage rates would be 6.2% in the first quarter of 2026 and decline to 5.9% by year-end (2). Despite these projected improvements,