The 30-year fixed rate mortgage averaged under 3 per cent for another week. This week's Freddie Mac Primarmy Mortgage Mrket Survey found the 30-year fixed averaged 2.98 Per cent.
That's one bright spot for homebuyers faced with tight housing inventory, higher prices and lots of competition for the homes that are available.
It also means that refinancing continues to be attractive for borrower who financed before 2020.
•30-year fixed-rate mortgage averaged 2.98 percent with an average 0.7 point for the week ending April 29, 2021, up slightly from last week when it averaged 2.97 percent. A year ago at this time, the 30-year FRM averaged 3.23 percent.
•15-year fixed-rate mortgage averaged 2.31 percent with an average 0.7 point, up from last week when it averaged 2.29 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.64 percent with an average 0.3 point, down from last week when it averaged 2.83 percent. A year ago at this time, the 5-year ARM averaged 3.14 percent.