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Mortgage Rates Drop For 4th Week in a Row

  • April 6th 2023

by UrbanTurf Staff

Mortgage rates chart_04-06-23.png

Long-term mortgage rates have now been falling for four weeks in a row. 

Freddie Mac reported 6.28% as the average on a 30-year mortgage, down four basis points compared to last week. Rates are now about fifty basis points lower than they were about a month ago. 

“Mortgage rates continue to trend down entering the traditional spring homebuying season,” Sam Khater, Freddie Mac’s Chief Economist, said in a release. “Unfortunately, those in the market to buy are facing a number of challenges, not the least of which is the low inventory of homes for sale, especially for aspiring first-time homebuyers.”

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/mortgage_rates_drop_for_4th_week_in_a_row/20877.

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