TPH - Mortgage rates marginally higher

30-year fixed-rate mortgage averages 3.18% for the week ending Apr.1, marginally above 3.17% recorded in prior week and down from 3.33% averaged in same period a year ago, according to the Freddie Mac Primary Mortgage Survey."...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," Freddie Mac’s Chief Economist Sam Khater commented.15-year FRM averages 2.45% unchanged from prior week and 2.82% a year ago.5-year Treasury-indexed hybrid adjustable rate mortgage average 2.84%, unchanged from last week, and down from 3.40% a year ago."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

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Mortgage rates marginally higher