Mortgage Rates in Mild Decline

Mortgage rates lapsed into a mild decline in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.81% as of April 24, down from last week when it averaged 6.83%. A year ago at this time, it averaged 7.17%.

The 15-year fixed-rate mortgage averaged 5.94%, down from last week when it averaged 6.03%. A year ago at this time, it averaged 6.44%.

“The average mortgage rate decreased slightly this week,” said Sam Khater, Freddie Mac’s chief economist. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points, and this stability continues to bode well for buyers and sellers alike.”