Mortgage Rates Creep up – 04/20/2023
Interest rates text and bar graph with rising arrow isolated on white.
“For the first time in over a month, mortgage rates moved up due to shifting market expectations,” said Sam Khater, Freddie Mac’s Chief Economist. “Home prices have stabilized somewhat, but with supply tight and rates stuck above six percent, affordable housing continues to be a serious issue for many potential homebuyers. Unless rates drop into the mid-five percent range, demand will only modestly recover.”
News Facts
- The 30-year fixed-rate mortgage averaged 6.39 percent as of April 20, 2023, up from last week when it averaged 6.27 percent. A year ago at this time, the 30-year FRM averaged 5.11 percent.
- The 15-year fixed-rate mortgage averaged 5.76 percent, up from last week when it averaged 5.54 percent. A year ago at this time, the 15-year FRM averaged 4.38 percent.
