30-Year Mortgage Rates Drop to 6.30%, Lowest in Four Weeks
Event summary
- Freddie Mac's Primary Mortgage Market Survey® shows the 30-year fixed-rate mortgage (FRM) averaged 6.30% as of April 16, 2026, down from 6.37% last week and 6.83% a year ago.
- The 15-year FRM averaged 5.65%, down from 5.74% last week and 6.03% a year ago.
- Sam Khater, Freddie Mac’s Chief Economist, noted this is a meaningful improvement for homebuyers during the spring homebuying season.
- The PMMS® focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit and a 20% down payment.
The big picture
The decline in mortgage rates to a four-week low of 6.30% signals a potential boost for the housing market, particularly during the traditionally busy spring homebuying season. This trend, if sustained, could enhance affordability and stimulate demand, aligning with Freddie Mac's mission to promote stability and affordability in the housing market. The broader economic context, including the Federal Reserve's policies, will be critical in shaping future mortgage rate movements.
What we're watching
- Market Impact
- How sustained mortgage rate declines will affect homebuyer demand and housing market activity during the spring season.
- Economic Indicators
- Whether the Federal Reserve's monetary policy will continue to influence mortgage rate trends.
- Housing Affordability
- The pace at which lower mortgage rates improve housing affordability for potential homebuyers.
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