US Mortgage Rates Climb in the Week Ending April 17
Mortgage Rates Remain Under Seven Percent
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, April 17.
The 30-year fixed-rate mortgage averaged 6.83%, up from last week when it week when it averaged 6.62%. A year ago at this time, the 30-year rate averaged 7.10%.
The 15-year fixed-rate mortgage averaged 6.03%, up from last week when it averaged 5.82%. A year ago at this time, the 15-year rate averaged 6.39%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the thirteenth consecutive week. At this time last year, rates reached 7.1% while purchase application demand was 13% lower than it is today, a clear sign that this year’s spring homebuying season is off to a stronger start.”
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