As of today, the average top-tier 30-year fixed mortgage rate sits around 6.17%, which is the lowest level we’ve seen since mid-January.
A Small Step Down—But Not a New Low
While rates are clearly moving in the right direction, it’s worth keeping things in perspective. Just a couple of weeks ago, rates briefly dipped even lower. In early January, the same 30-year fixed averages were hovering closer to the 6.00% range, with some borrowers seeing rates just under that mark for short periods.
So yes—today’s rates are better than last week’s, but they’re still a bit higher than the best levels seen earlier this month.
For buyers in Seattle, where even small rate changes can affect purchasing power, every fraction of a percent matters. In Bellevue and Kirkland, where loan sizes are often larger, these small dips can translate into meaningful monthly savings.
A Calm Market, For Now
One reason rates have been inching lower is simple: there’s been very little market drama. There were no major economic surprises today, and the rest of the week looks fairly quiet as well.
Even the upcoming Federal Reserve announcement on Wednesday isn’t expected to shake things up much. Financial markets have already priced in the outcome, and the Fed is widely expected to hold rates steady at this meeting.
In other words, there’s no big news left to react to—at least for now.
What This Means for Seattle-Area Buyers
For homebuyers and homeowners in Seattle, Bellevue, and Kirkland, this environment offers a bit of breathing room:
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Rates are trending lower, even if slowly
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Volatility is limited, which helps with planning
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Buyers watching the market have time to prepare
That said, mortgage rates can change quickly. Calm weeks like this don’t last forever, and it doesn’t take much—an unexpected inflation report or jobs number—to reverse direction.
The Bottom Line
Mortgage rates are currently at their lowest point in over a week, and while they’re not at the absolute lows seen earlier this month, the recent trend has been positive. For buyers and refinancers in Seattle, Bellevue, and Kirkland, this could be a good window to check options, run numbers, and get pre-approved—especially before spring demand picks up.
At Home Right Lending, we’re a mortgage brokerage, not a bank. That means we compare multiple lenders to help you find the right loan and rate for your situation—whether you’re buying your first home, moving up, or refinancing.
If you’re thinking about making a move in Seattle, Bellevue, or Kirkland, now’s a great time to start the conversation.