Mortgage rates down to four-week low

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Long-term mortgage rates declined to a four-week low, according to [https://seekingalpha.com/pr/20476603-mortgage-rates-continue-to-decline] the latest Freddie Mac (FMCC [https://seekingalpha.com/symbol/FMCC]) Primary Mortgage Survey.

30-year fixed-rate mortgages averaged 6.30% as of April 16, down from 6.37% last week and 6.83% a year ago.

15-year fixed-rate mortgages averaged 5.65%, down from 5.74% last week and 6.03% in the year-ago week.

"Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season," said Sam Khater, Freddie Mac's chief economist.

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