MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.37% this past week, Freddie Mac reported.
“The 30-year fixed-rate mortgage averaged 6.37% this week,” said Sam Khater, Freddie Mac’s chief economist. “Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years. Together, these trends could modestly ease affordability pressures through the spring homebuying season.”
The 30-year FRM averaged 6.37% as of May 7, up from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.76%. The 15-year FRM averaged 5.72%, up from last week when it averaged 5.64%. A year ago at this time, the 15-year FRM averaged 5.89%, Freddie Mac said.