Published April 16, 2026, 12:17 p.m. EDT | Updated April 16, 2026, 12:42 p.m. EDT
Average rate on benchmark 30-year fixed mortgage fell to 6.3%, Freddie Mac says Mortgage Rates fell this week, mortgage buyer Freddie Mac said Thursday.
Freddie Mac’s latest survey of the primary mortgage market, released Thursday, showed the benchmark’s average rate. Fixed mortgage over 30 years decreased to 6.3% from last week’s reading of 6.37%.
The average rate for a 30-year loan was 6.83% a year ago.
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Realtor Russell Walsh reviews a listing from realtor Bryce Garman during Garman’s open house in Dana Point, Calif., August 1, 2024. (Paul Bersebach/MediaNews Group/Orange County Register via Getty Images)
“Compared to a year ago, when rates were at 6.83%, this is a significant improvement for homebuyers during what is typically the busy spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist.
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The average rate on a Fixed mortgage over 15 years fell to 5.65% from last week’s reading of 5.74%.
Mortgage rates are affected by several factors, including Federal Reserve and geopolitics. Although mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield was hovering around 4.29% Thursday afternoon.
A real estate agent and a potential buyer stand in front of a home during an open house in Seattle, Washington, January 18, 2026. (David Ryder/Bloomberg via Getty Images)
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The drop in mortgage rates follows two-week ceasefire between the United States and Iran, negotiated with the help of Pakistan, which was presented by the White House as a step towards broader negotiations.
“The 10-year Treasury yield declined from last week, and that relief has passed through to mortgage rates,” said Anthony Smith, senior economist at Realtor.com. “However, the sustainability of this rate cut depends on whether the ceasefire holds and moves toward a more lasting resolution. Until there is more clarity on the geopolitical front, mortgage rate volatility will likely remain elevated, and any improvements may prove temporary.”






























