Mortgage charges tick decrease for third straight week

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Mortgage charges ticked decrease this week, mortgage purchaser Freddie Mac stated Thursday.

Freddie Mac’s newest Main Mortgage Market Survey, launched Thursday, confirmed that the common fee on the benchmark 30-year fastened mortgage fell barely to six.62% from final week’s studying of 6.64%. The typical fee on a 30-year mortgage was 6.88% a 12 months in the past.

“The average 30-year fixed-rate mortgage continues to trend down, remaining under 7% for the twelfth consecutive week,” stated Sam Khater, Freddie Mac’s chief economist. “As purchase applications continue to climb, the spring homebuying season is shaping up to look more favorable than last year.”

A “for sale” signal on a home in Philadelphia, Pennsylvania. (Joe Lamberti/Bloomberg through Getty Photos / Getty Photos)

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The typical fee on the 15-year fastened mortgage fell to five.82%, unchanged from final week. One 12 months in the past, the speed on the 15-year fastened be aware averaged 6.16%.

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