MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.38% this past week, Freddie Mac reported.
"Mortgage rates this week averaged 6.38%," said Sam Khater, Freddie Mac's chief economist. “The housing market continues to show gradual improvements compared to a year ago amid recent rate volatility. Purchase and refinance applications are up year-over-year, and rates remain lower than last year when they averaged 6.65%.”
The 30-year FRM averaged 6.38% as of March 26, up from last week when it averaged 6.22%. A year ago at this time, the 30-year FRM averaged 6.65%. The 15-year FRM averaged 5.75%, up from last week when it averaged 5.54%. A year ago at this time, the 15-year FRM averaged 5.89%, Freddie Mac said.