30-Year Fixed-Rate Mortgages Inch Higher in the Week Ending April 4th
Mortgage Rates Continue to Show Little Movement
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending April 4th.
The 30-year fixed-rate mortgage averaged 6.82%, up from last week when it averaged 6.79%. A year ago at this time, the 30-year rate averaged 6.28%.
The 15-year fixed-rate mortgage averaged 6.06%, down from last week when it averaged 6.11%. A year ago at this time, the 15-year rate averaged 5.46%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates showed little movement again this week, hovering around 6.8%. Since the start of 2024, the 30-year fixed-rate mortgage has not reached 7.0% but has not dropped below 6.6% either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near-term. On the plus side, inventory is improving somewhat, which should help temper home price growth.”
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