Mortgage Rates Near 4 Month Lows


Mortgage interest rates are down approximately .2% from last week and rates are near 4 month lows.

Friday was a great day for rates with 2 important economic reports.

The first was the U.S. Jobs Report showing there were 223,000 jobs created in December.

Most of the December jobs appear to be part time or seasonal jobs.

The report also gave a negative revision to October and November numbers by 28,000 jobs.

Although job growth was stronger than expected, wage growth and average weekly earnings were down.

Less money to buy goods/services helps inflation. Less demand equates to lower pricing.

Also on Friday, the Institute of Supply Management’s Index fell way below projections signaling more economic weakness.

With these 2 reports, interest rates had a fantastic day on Friday and are hovering near 4 month lows.

This week’s big report is the Consumer Price Index Inflation Numbers which comes out Thursday.
Low inflation numbers will be positive for mortgage interest rates.


Our team is seeing a substantial increase in home Buying activity in January.

I’m hearing the same things happening from my Mortgage colleagues and Realtor partners.

Our mortgage applications are up 47% and our contracts accepted are up 60%.

We are also seeing higher consumer confidence in housing.

Interest rates are lower

Home prices are lower

And Seller Concessions are up.

According to Redfin, 42% of sellers offered seller concessions in Q4 of 2022.

It’s too early to say that this is sustainable, but we are seeing a shift in mindset and home buyer activity.

See consumer confidence in housing article below:


Below is the audio of the report and my favorite slides.

Rates should be 5.48% if the spread between rates and 10 Year Treasury Yield were normal. 

Rates are higher because Lenders think consumers will refinance.