US Mortgage Rates Increase in the Week Ending April 30
Mortgage Rates Average 6.30%
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, April 30.
The 30-year fixed-rate mortgage averaged 6.30%, up from 6.23% the previous week. A year ago at this time, the 30-year rate averaged 6.76%.
The 15-year fixed-rate mortgage averaged 5.64%, up from 5.58% last week. A year ago at this time, the 15-year rate averaged 5.92%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage averaged 6.30% this week. As rates had modestly declined the last few weeks, purchase demand has accelerated with purchase applications rising to over 20 % above a year ago. It is clear that purchase demand continues to hold up as prospective buyers react to both modestly lower rates and more inventory to choose from than the last few years.”
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