Mortgage Rates Fall for Third Straight Week
March 30 2023 - 12:34PM
Dow Jones News
By Denny Jacob
Mortgage rates fell again this week for the third consecutive
week, according to government-backed housing-finance agency Freddie
Mac.
In the week ending Thursday, the average rate on a 30-year
fixed-rate mortgage slid to 6.32% from 6.42% the prior week. A year
ago, the average rate was 4.67%.
The average 15-year rate slipped to 5.56% from 5.68% last week,
Freddie Mac said. A year ago, the 15-year fixed-rate mortgage rate
averaged 3.83%.
"Economic uncertainty continues to bring mortgage rates down,"
said Sam Khater, Freddie Mac's chief economist.
"Over the last several weeks, declining rates have brought
borrowers back to the market but, as the spring homebuying season
gets under way, low inventory remains a key challenge for
prospective buyers," Mr. Khater said.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 30, 2023 12:19 ET (16:19 GMT)
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