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6.27%: Mortgage Rates Drop for 5th Straight Week

  • April 13th 2023

by UrbanTurf Staff

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Long-term mortgage rates continued their decline on Thursday, dropping for the fifth straight week. 

Freddie Mac reported 6.27% as the average on a 30-year mortgage, down one basis points compared to last week. 

“Incoming data suggest inflation remains well above the desired level but showing signs of deceleration,” Sam Khater, Freddie Mac’s Chief Economist, said in a release. "These trends, coupled with tight labor markets, are creating increased optimism among prospective homebuyers as the housing market hits its peak in the spring and summer.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/627_mortgage_rates_drop_for_5th_straight_week/20904.

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