Mortgage Rates Continue to Decline

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Mortgage rates sank again in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.64% as of April 3, down slightly from last week when it averaged 6.65%. A year ago at this time, it averaged 6.82%.

The 15-year fixed-year mortgage averaged 5.82%, down from last week when it averaged 5.89%. A year ago at this time, it averaged 6.06%.

“Over the last month, the 30-year fixed-rate has settled in, making only slight moves in either direction,” said Sam Khater, Freddie Mac’s chief economist. “This stability is reassuring, and borrowers have responded with purchase application demand rising to the highest growth rate since late last year.”