Fixed-Rate Mortgages Continue to Trend Higher in the Week Ending April 25th
Mortgage Rates Continue to Increase
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending April 25th.
The 30-year fixed-rate mortgage averaged 7.17%, up from last week when it averaged 7.10%. A year ago at this time, the 30-year rate averaged 6.43%.
The 15-year fixed-rate mortgage averaged 6.44%, up from last week when it averaged 6.39%. A year ago at this time, the 15-year rate averaged 5.71%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates continued rising this week. Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady. With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022.”
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