U.S.30-year FRM averaged 6.82% as of April 4, 2024, up from last week when it averaged 6.79%. A year ago at this time, the 30-year FRM averaged 6.28%, according to Freddie Mac.
The 15-year FRM averaged 6.06%, down from last week when it averaged 6.11%. A year ago at this time, the 15-year FRM averaged 5.64%.
"Mortgage rates showed little movement again this week, hovering around 6.8%,” said Sam Khater, Freddie Mac’s Chief Economist. “Since the start of 2024, the 30-year fixed-rate mortgage has not reached 7% but has not dropped below 6.6% either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near-term. On the plus side, inventory is improving somewhat, which should help temper home price growth.”
