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

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.

The current average mortgage rate on a 30-year fixed mortgage is 6.10%, according to the Mortgage Research Center. The average rate on a 15-year mortgage is 5.25%, while the average rate on a 30-year jumbo mortgage is 6.

If you've been waiting for rates to drop to refinance a 8% mortgage, your time has come. Rates are now the lowest they've been since early 2023. The 30-year fixed-rate hit 6.06% on average during the week ending Jan. 15, according to Freddie Mac's Primary Mortgage Market Survey.

Mortgage rates fell to the lowest level in over three years, offering a window of opportunity for many frustrated home buyers. The 30-year fixed-rate mortgage fell 10 basis points and averaged 6.06% as of Jan. 15, according to housing-finance giant Freddie Mac’s FMCC -5.45% weekly report.

The current average mortgage rate on a 30-year fixed mortgage is 6.11% with an APR of 6.14%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.20% with an APR of 5.

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