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- Mortgage rates tick lower for third straight week (foxbusiness.com)
Mortgage rates dipped slightly this week, offering a glimmer of hope to prospective homebuyers. According to Freddie Mac’s latest Primary Mortgage Market Survey, the average rate for a 30-year fixed mortgage fell to 6.62%, down from 6.64% last week. This marks the twelfth consecutive week that rates have remained below 7%, a welcome trend compared to the 6.88% average seen a year ago.
Sam Khater, Freddie Mac’s chief economist, noted the positive movement, stating, “As purchase applications continue to climb, the spring homebuying season is shaping up to look more favorable than last year.” The decline in rates, coupled with increased buyer interest, suggests a potential shift towards a more balanced housing market.
The average rate for a 15-year fixed mortgage held steady at 5.82%, down from 6.16% a year ago.
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- Mortgage rates tick lower for third straight week (foxbusiness.com)