30-Year Fixed Mortgage Rate Slides to 6.37%, Zillow Averages at 6.08%
The average 30-year fixed mortgage rate fell nine basis points to 6.37% for the week ending April 8, while the 15-year rate dipped three basis points to 5.74%. National averages from Zillow show 30-year fixed at 6.08%, 15-year fixed at 5.60%, and 5/1 and 7/1 ARMs at 6.35% and 6.29%.
1. Weekly Rate Declines
Data from Freddie Mac shows the average 30-year fixed rate fell nine basis points to 6.37% for the week ending April 8, while the average 15-year rate dropped three basis points to 5.74%.
2. Zillow National Rate Averages
Zillow's latest national averages place the 30-year fixed rate at 6.08%, 15-year fixed at 5.60%, 5/1 ARM at 6.35% and 7/1 ARM at 6.29%, with refinance rates slightly higher across most terms.
3. Outlook on Further Rate Moves
Jeff DerGurahian, head economist at loanDepot, noted that easing Middle East tensions or signs of weaker employer demand could pave a gradual path toward 6% mortgage rates over the coming weeks.