Mortgage Rates Decrease Slightly for 5th Week – 04/13/2023
3d image of house with graph falling
“Mortgage rates decreased for the fifth consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “Incoming data suggest inflation remains well above the desired level but showing signs of deceleration. These trends, coupled with tight labor markets, are creating increased optimism among prospective homebuyers as the housing market hits its peak in the spring and summer.”
News Facts
- The 30-year fixed-rate mortgage averaged 6.27 percent as of April 13, 2023, down from last week when it averaged 6.28 percent. A year ago at this time, the 30-year FRM averaged 5.00 percent.
- The 15-year fixed-rate mortgage averaged 5.54 percent, down from last week when it averaged 5.64 percent. A year ago at this time, the 15-year FRM averaged 4.17 percent.
