Mortgage Rates , Continue to Trend Down .<br />CNN reports that mortgage rates <br />in the United States have fallen <br />for the fourth week in a row. .<br />According to data from Freddie Mac, <br />the 30-year-fixed-rate mortgage averaged <br />6.28% in the week ending April 6.<br />The week before, the average <br />rate had been at 6.32%. .<br />Compared to the same time in 2022, the 30-year-fixed-rate was down to 4.72%.<br />Mortgage rates continue to trend <br />down entering the traditional <br />spring homebuying season, Sam Khater, Freddie Mac’s chief economist, via CNN.<br />Unfortunately, those in the market to <br />buy are facing a number of challenges, <br />not the least of which is the low <br />inventory of homes for sale, especially <br />for aspiring first-time homebuyers, Sam Khater, Freddie Mac’s chief economist, via CNN.<br />In November of 2022, average rates hit a high of 7.08%.<br />Experts caution that while rates have been trending <br />down in 2023, fallout from recent banking meltdowns <br />could lead to stricter lending requirements.<br />More expensive, stricter lending helps <br />to usher in the long-term health of <br />the economy, but the downside is that <br />borrowing for large purchases, including <br />a home purchase, may be relatively <br />more challenging in the short term, Hannah Jones, economic research analyst at Realtor.com, via CNN.<br />Mortgage rates tend to move with <br />the 10-year Treasury yield, which ticked up <br />this week, but the spread between the two <br />narrowed as mortgage rates moved down <br />and the market continued to navigate <br />ongoing economic uncertainty, Hannah Jones, Economic research analyst at Realtor.com, via CNN.<br />Mortgage rates tend to move with <br />the 10-year Treasury yield, which ticked up <br />this week, but the spread between the two <br />narrowed as mortgage rates moved down <br />and the market continued to navigate <br />ongoing economic uncertainty, Hannah Jones, Economic research analyst at Realtor.com, via CNN
