The 30-year fixed-rate mortgage averaged 6.62% as of April 10, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is down from last week when it averaged 6.64%.
“The average 30-year fixed-rate mortgage continues to trend down, remaining under 7% for the twelfth consecutive week,” said Sam Khater, Freddie Mac’s chief economist. “As purchase applications continue to climb, the spring homebuying season is shaping up to look more favorable than last year.”
The 15-year fixed-rate mortgage averaged 5.82%, unchanged from last week. A year ago at this time, it averaged 6.16%.
