The Freddie Mac Primary Mortgage Market Survey for the week ending April 13 shows that the 30-year fixed-rate mortgage averaged 6.27% – down from a week earlier, when it averaged 6.28%.
A year ago, the 30-year fixed-rate mortgage averaged 5%
“Mortgage rates decreased for the fifth consecutive week,” says Sam Khater, Freddie Mac’s chief economist. “Incoming data suggest inflation remains well above the desired level but showing signs of deceleration. These trends, coupled with tight labor markets, are creating increased optimism among prospective homebuyers as the housing market hits its peak in the spring and summer.”
The 15-year fixed-rate mortgage averaged 5.54% this week, down from 5.64% a week ago.
A year ago at this time, the 15-year fixed-rate mortgage averaged 4.17%.
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