HOMZ - Long-term mortgages inch up on shifting market expectations

2023-04-20 12:15:09 ET

Long-term mortgages inched up this week due to shifting market expectations, according to the Freddie Mac Primary Mortgage Survey.

30-year fixed-rate mortgages averaged 6.39% for the week ending April 20, up from last week when they averaged 6.27% and higher than 5.11% a year ago.

15-year fixed-rate mortgages averaged 5.76%, up from last week when they averaged 5.54% and higher from 4.38% a year ago.

"For the first time in over a month, mortgage rates moved up due to shifting market expectations," Freddie Mac Chief Economist Sam Khater said.

"Unless rates drop into the mid five percent range, demand will only modestly recover," Khater said.

Here is a look at the survey results:

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