guvendemir
Mortgage rates were marginally down this week, making way for encouraging data on existing home sales, according to the Freddie Mac Primary Mortgage Survey.
30-year fixed-rate mortgages averaged 6.79% as of March 28, down from 6.87% last week and higher than 6.32% in the year-ago week.
15-year fixed-rate mortgages averaged 6.11%, compared to 6.21% last week and 5.56% a year ago.
"Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers," Freddie Mac's chief economist, Sam Khater, said.
"We also are seeing encouraging data on existing home sales, which reflects improving inventory. Regardless, rates remain elevated near seven percent as markets watch for signs of cooling inflation, hoping that rates will come down further," Khater added.
More related to mortgage rates:
- Waller Pushes On Open Door: Push For Patience Lifts The Dollar, Complicating Japanese Efforts
- Dollar's Recent Gains Pared But Firm Undertone Remains Intact
- Greenback Consolidates Last Week's Surge
- Bill Gross favors short-end Treasuries and still eyes MLPs
- Treasuries are jumping and the yield curve hits longest inversion ever