Just checked the mortgage rates from early January 2023 and noticed something interesting - the 30-year fixed was sitting at 6.61%, down from 6.87% the week before. Seems like rates were starting to cool off a bit back then. The 15-year fixed came in at 6.01%, actually up slightly from 5.95%, so there was some movement across different loan types.

For anyone who was shopping around during that january 2023 period, the jumbo mortgage rates were at 6.60% for 30-year fixed - down from 6.93% the previous week. If you were looking at adjustable-rate mortgages, the 5/1 ARM was holding steady around 5.51%. The spread between fixed and ARM products was pretty noticeable.

To put the actual costs in perspective: a $100k loan at that 6.61% rate would run you about $639 monthly in principal and interest, with roughly $130k in total interest over 30 years. For a 15-year at 6.01%, you'd be looking at $844 monthly but cutting the total interest down to around $52k. The jumbo market showed similar patterns - on a $750k loan at those january 2023 mortgage rates, your monthly payment would've been nearly $4,800.

The key takeaway from that period was that mortgage rates were trending downward compared to the previous week, giving borrowers a bit of breathing room. If you were calculating payments back then, plugging in your home price, down payment, and these rates into a calculator would've given you a solid baseline for budgeting.