Skip to main content

Mortgage Rates Make A Modest Increase

Apr 01, 2021
Photo of a nice, large suburban house.
Director of Events

Unlike the past three weeks of consecutive, substantial increases, mortgage rates showed just a minimal increase for the week ending April 1, 2021. Freddie Mac's Primary Mortgage Market Survey reported the 30-year fixed-rate mortgage increased slightly to 3.18%, up from 3.17% the previous week. A year ago, the 30-year averaged 3.33%.

"Although mortgage rates remain low, we are beginning to see a pullback by those looking to enter the housing market," said Sam Khater, Freddie Mac’s chief economist. "In fact, homebuyer demand has gone from 25% above pre-COVID levels at the start of the year, when mortgage rates hit record lows, to 8% above pre-COVID levels today."

"We even see that purchase demand is diminished today as compared to late May and early June of 2020, when mortgage rates were the same level. This is confirmation that while purchase demand remains strong, the marginal buyer is feeling the affordability squeeze resulting from the increases in mortgage rates and home prices we’ve experienced in recent months," added Khater.

Additionally, the 15-year fixed-rate mortgage averaged 2.45%, unchanged from the previous week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage also remained unchanged, averaging 2.84%.

Click here to view Freddie Mac's full PMMS.

Freddie Mac Primary Mortgage Market Survey 04/01/2021

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Apr 01, 2021
Fewer Canadians Hunt For U.S. Property

Largest component of international buyers in U.S. takes more than 25% hit

Jul 08, 2025
Fannie, Freddie Now Allow Lenders To Use VantageScore 4.0

Lenders will keep tri-merge credit scoring model; what this shift means

Fairway Independent Mortgage Corporation Announces Rebranding

Now Fairway Home Mortgage, company also donates $1M to support relief efforts in deadly Texas flooding

Jul 07, 2025
FHFA Chief Officially Calls For Investigation Of Federal Reserve Chairman Powell

Alleges Powell lied in testimony to Congress regarding Fed building renovations, says Fed Chair should be fired

BBB Will Impact Homeowners, Buyers

U.S. House and Senate must agree on certain tax, mortgage insurance premium deductions

FHFA, Fannie, Freddie Rebrand CSS To U.S. Financial Technology To Boost Recognition, Sell More MBS Services

Meanwhile, FHFA also considering renaming LLPAs for mortgages the GSEs acquire