According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.33% for the week ending April 2, down from 3.50% a week earlier. The all-time low in the almost 50-year-old survey, reached in March, was 3.29%.
Sam Khater, Freddie Mac’s chief economist, said in a statement, “While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions.”