Mortgage rates declined for the first time in six weeks, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.37% as of April 9, down from last week when it averaged 6.46%. A year ago at this time, it averaged 6.62%.
The 15-year fixed-rate mortgage averaged 5.74%, down from last week when it averaged 5.77%. A year ago at this time, it averaged 5.82%.
Sam Khater, Freddie Mac’s chief economist, observed, “The decrease in rates represents a positive development for prospective homebuyers and could spark a more favorable spring homebuying season than last year.”
Mortgage rate is ridiculously high
I could be wrong but I recall Trump was going to bring it down? Wha happen? Another figment of his imagination???
Peter, it did come down. The article says that last year at this time it was 6.62. When Biden started office, the rates were 2.65 to 2.77 and when Biden left office the rates were 6.67 to 7.11 depending on the provider. If you’re waiting for the rates to be below 4 percent – probably not in our lifetime.
Trump promised the moon and stars to get into office again. Food prices were going to come down within 24 hours, no more wars, America first. It’s always Trump first. Some Trumpers are finally realizing this but about 33% never will. Maria is likely within that 33%.
Truth! Some will never see the obvious.
And imagine what would be happening under the alternative. Biden? Kamala?
@reidrosenthal exactly things would be far worse!