Mortgage Rates Trend Lower Amid Easing Inflation Data
April 13 2023 - 12:29PM
Dow Jones News
By Will Feuer
Mortgage rates trended lower, with the average rate on the
popular 30-year fixed-rate mortgage ticking down for the fifth week
in a row, according to government-backed housing-finance agency
Freddie Mac.
In the week ending Thursday, the average rate on a 30-year
fixed-rate mortgage edged down to 6.27% from 6.28% the prior week.
A year ago, the average rate was 5.0%.
The average 15-year rate fell to 5.54% from 5.64% last week. A
year ago, the 15-year fixed-rate mortgage rate averaged 4.17%.
"Mortgage rates decreased for the fifth consecutive week," said
Sam Khater, Freddie Mac's chief economist. "Incoming data suggest
inflation remains well above the desired level but showing signs of
deceleration. These trends, coupled with tight labor markets, are
creating increased optimism among prospective home buyers as the
housing market hits its peak in the spring and summer."
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 13, 2023 12:14 ET (16:14 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Federal Home Loan Mortgage (QB) (USOTC:FMCC)
Historical Stock Chart
From Nov 2024 to Dec 2024
Federal Home Loan Mortgage (QB) (USOTC:FMCC)
Historical Stock Chart
From Dec 2023 to Dec 2024
