MCLEAN, Va.--The 30-year fixed-rate mortgage rate continued to drop this past week, averaging 6.30%, Freddie Mac said.
“Mortgage rates declined this week to a four-week low of 6.30%,” said Sam Khater, Freddie Mac’s chief economist. “Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season.”
The 30-year FRM averaged 6.30% as of April 16, down from last week when it averaged 6.37%. A year ago at this time, the 30-year FRM averaged 6.83%. The 15-year FRM averaged 5.65%, down from last week when it averaged 5.74%. A year ago at this time, the 15-year FRM averaged 6.03%, Freddie Mac said.