the numbers mortgage rates took a dip as the us economy shows signs of cooling off the 30year fixedrate mortgage averaged 615 as of jan 19 according to data released by freddie mac fmcc on thursday that’s down 15 basis points from the previous week one basis point is equal to one hundredth of a percentage point last week the 30year was at 633 last year the 30year was averaging at 356 rates are now at the lowest level since september 2022 the average rate on the 15year mortgage fell to 528 as rates drop buyers and homeowners who were eagerly waiting for a break are rushing in mortgage demand surged nearly 28 in early january after a dip in rates according to a separate report by the mortgage bankers association what are they saying “as inflation continues to moderate mortgage rates declined again this week” sam khater chief economist at freddie mac said in a statement “declining rates are providing a muchneeded boost to the housing market but the supply of homes remains a persistent concern” he added market reaction the yield on the 10year treasury note tmubmusd10y fell below 34 during the afternoon trading session on thursday  got thoughts on the housing market write to marketwatch reporter aarthi swaminathan at aarthimarketwatchcom