Mortgage rates fell this week as economic data showed inflation is fading, CNN reports. The 30-year fixed-rate mortgage averaged 6.15% in the week ending January 19, down from 6.33% the week before, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.56%.
“As inflation continues to moderate, mortgage rates declined again this week,” said Sam Khater, Freddie Mac’s chief economist.
“Rates are at their lowest level since September of last year, boosting both homebuyer demand and home builder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern,” he added.
Okay good. Now I’ll be able to afford a house in Flatbush?