On April 8 the national average 30-year fixed rate dipped one basis point to 6.19% from 6.20%, marking a drop of more than a quarter point since the 6.47% peak at March-end, while 15-year fixed rates rose three basis points to 5.70%. Other products such as the 5/1 ARM and 7/1 ARM stand at 6.43% and 6.29% respectively, with VA loans at lower rates.

Mortgage refinance rates on the platform now average 6.37% for a 30-year fixed loan and 6.51% for a 20-year fixed term, while 15-year fixed refinancing is at 5.80%. ARM refinance rates measure 6.32% for 5/1 and 6.19% for 7/1, and VA refinance options range from 5.38% to 5.93%.

Slight declines in purchase mortgage rates may stimulate new loan applications via the lender marketplace, potentially increasing revenue from origination fees and referral services, whereas elevated refinance rates could continue suppressing consumer refinancing activity.