TPH - Mortgage rates inch marginally below 3%

30-year fixed-rate mortgage averages 2.97% for the week ending Apr.22, down from 3.04% recorded in prior week and down from 3.33% averaged in same period a year ago, according to the Freddie Mac Primary Mortgage Survey."Freddie Mac research suggests that lower income and minority homeowners have been less likely to engage in the refinance market. Low and declining mortgage rates provide these homeowners the opportunity to reduce their monthly payment and improve their financial position," Freddie Mac’s Chief Economist Sam Khater commented.15-year FRM averages 2.29% down from prior week's 2.35% and 2.86% a year ago.5-year Treasury-indexed hybrid adjustable rate mortgage average 2.83%, up from last week's 2.80%, and down from 3.28% a year agoZillow economist Matthew Speakman said, "After a sustained sell-off in 2021’s first quarter, demand for Treasury's has increased recently, keeping downward pressure on yields and thus mortgage rates."Homebuilder stocks - D.R. Horton (DHI), Toll Brothers (TOL), Taylor Morrison Home (TMHC), Tri Pointe Homes (TPH), KB Home (KBH),

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Mortgage rates inch marginally below 3%