MCLEAN, Va.--The 30-year fixed-rate mortgage continued to fall, averaging 6.23% this past week, Freddie Mac reported.
“The 30-year fixed-rate mortgage declined again this week to 6.23%,” said Sam Khater, Freddie Mac’s chief economist. “Rates currently stand at their lowest level in the last three spring homebuying seasons. This improvement, coupled with a pickup in purchase applications and refinance activity, as well as an increase in monthly pending home sales, underscores signs of improving momentum in the market.”
The 30-year FRM averaged 6.23% as of April 23, down from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.81%. The 15-year FRM averaged 5.58%, down from last week when it averaged 5.65%. A year ago at this time, the 15-year FRM averaged 5.94%, Freddie Mac said.