Skip to main content

Mortgage Rates Reverse Upward Trend

Apr 09, 2021
Fixed-rate mortgages fell to the lowest levels since early 2018, according to new data from Freddie Mac
Director of Events

Freddie Mac's Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage averaged 3.13%, for the week ending April 8, 2021. This marks the first dip in mortgage rates after seven weeks of consecutive increases.

“After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields,” said Sam Khater, Freddie Mac’s chief economist. “As the economy recovers, it should experience a strong rebound in the labor market. Combined, these positive signals will continue to bolster purchase demand. The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility.”

The report also revealed that the 15-year fixed-rate mortgage averaged 2.42%, down from the previous week's average of 2.45%. The 15-year remained considerably lower than last year's average of 2.77%. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage increased from 2.84% the previous week to 2.92% for the week ending April 8, 2021. A year ago, the 5-year ARM averaged 3.40%.

Freddie Mac Primary Mortgage Market Survey 04/08/2021

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Apr 09, 2021
HUD Freezes Foreclosures On FHA Mortgages In Texas Flood Zone

Kerr County homeowners among hardest hit in disaster that’s claimed more than 100 lives

Jul 09, 2025
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