Despite market fluctuations, the 30-year fixed-rate mortgage saw little to no change from last week. Rates remain relatively low compared to recent months, encouraging a positive response from homebuyers. Purchase applications have increased by 5% compared to this time last year. The blend of slightly lower mortgage rates and improved housing inventory offers hope for buyers during this key spring home-buying period.
According to Freddie Mac, the 30-year fixed rate increased slightly by 0.02 basis points this week, bringing the U.S. weekly average to 6.65%. One year ago, the rate was 6.74%.
Pre-Approved Mortgage
If you’re looking to step into the housing market, consider getting pre-approved with Blue Reef Mortgage. With our low FHA rates and reduced mortgage insurance premiums (MIP), we can help give you more buying power to find the home of your dreams. FHA loans are an excellent option for first-time homebuyers, those with a lower credit score, or buyers who may not have a large down payment saved.
At Blue Reef Mortgage, we’re your one-stop shop for everything from pre-approval to home shopping and financing. Call us today! 561-831-8911 or email at contact@bluereefmortgage.com
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
