Mortgage Rates Inch Down in the Week Ending April 13th
Mortgage Rates Decrease Slightly
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending April 13th. The 30-year fixed-rate mortgage averaged 6.27%, down from last week when it averaged 6.28%. A year ago at this time, the 30-year rate averaged 5.00%.
The 15-year fixed-mortgage rate averaged 5.54%, up from last week when it averaged 5.64%. A year ago at this time, the 15-year rate averaged 4.17%.
Adding additional background and his analysis to this week’s survey, Sam Khater, Freddie Mac’s Chief Economist, said:
“Mortgage rates decreased for the fifth consecutive week. Incoming data suggest inflation remains well above the desired level but showing signs of deceleration. These trends, coupled with the tight labor markets, are creating increased optimism among prospective homebuyers as the housing market hits its peak in the spring and summer.”
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