Mortgage Rates have Fallen Marginally

Date:

April 13, 2023

The results of Freddie Mac’s Primary Mortgage Market Study (PMMS) were revealed today, and the 30-year fixed-rate mortgage (FRM) averaged 6.27%.

Edensaw Woods - Marine Plywood & Lumber Yard Supply in Washington State (WA)

“Mortgage rates fell for the fifth week in a row,” said Sam Khater, chief economist at Freddie Mac. “Incoming data indicate that inflation remains well above the desired level but is slowing.” These factors, combined with tight labor markets, are increasing prospective homebuyers’ optimism as the housing market reaches its peak in the spring and summer.”

As of April 13, 2023, 30-year fixed-rate mortgages averaged 6.27%, down from 6.28% the previous week. The 30-year FRM averaged 5.00% a year ago at this time.
15-year fixed-rate mortgages averaged 5.54%, down from 5.64% last week. The 15-year FRM averaged 4.17% a year ago at this time.