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The 30-year Fixed-rate Mortgage Continues to Inch Up

Freddie Mac
·2 min read
Freddie Mac
Freddie Mac

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of 4/27/2023
U.S. weekly average mortgage rates as of 4/27/2023

MCLEAN, Va., April 27, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.43 percent.

“The 30-year fixed-rate mortgage increased modestly for the second straight week, but with the rate of inflation decelerating rates should gently decline over the course of 2023,” said Sam Khater, Freddie Mac’s Chief Economist. “Incoming data suggest the housing market has stabilized from a sales and house price perspective. The prospect of lower mortgage rates for the remainder of the year should be welcome news to borrowers who are looking to purchase a home.”

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News Facts

  • 30-year fixed-rate mortgage averaged 6.43 percent as of April 27, 2023, up from last week when it averaged 6.39 percent. A year ago at this time, the 30-year FRM averaged 5.10 percent.

  • 15-year fixed-rate mortgage averaged 5.71 percent, down from last week when it averaged 5.76 percent. A year ago at this time, the 15-year FRM averaged 4.40 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Angela Waugaman
703-714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/02f2efa0-cd8a-4807-894c-69df7b872812