MCLEAN, Va.-- The 30-year fixed-rate mortgage ticked higher this past week, averaging 6.30%, Freddie Mac said.
“The 30-year fixed-rate mortgage averaged 6.30% this week,” said Sam Khater, Freddie Mac’s chief economist. “As rates had modestly declined the last few weeks, purchase demand has accelerated with purchase applications rising to over 20% above a year ago. It is clear that purchase demand continues to hold up as prospective buyers react to both modestly lower rates and more inventory to choose from than the last few years."
The 30-year FRM averaged 6.30% as of April 30, up from last week when it averaged 6.23%. A year ago at this time, the 30-year FRM averaged 6.76%. The 15-year FRM averaged 5.64%, up from last week when it averaged 5.58%. A year ago at this time, the 15-year FRM averaged 5.92%, Freddie Mac said.