Mortgage rates continued their climb for the seventh week in a row, according to the Freddie Mac weekly survey…(Freddie Mac)
- 30-YR FIXED: The average rate was up 11 basis points to 5.11% for the week ending April 21st, up 214 basis points from one year ago. Wow.
- 15-YR FIXED: The average rate was up 21 basis points to 4.28%, up 209 basis points from one year ago.
Sam Khater, Freddie Mac’s Chief Economist, said that the springtime buying season could look a little different this year…
- “While springtime is typically the busiest homebuying season, the upswing in rates has caused some volatility in demand. It continues to be a seller’s market, but buyers who remain interested in purchasing a home may find that competition has moderately softened.”