US 30 year fixed rate mortgage 6.27% in the April 13 week

Freddie Mac is reporting its 30 year mortgage rate for the week of April 13 at 6.27%. That is one basis point Basis point A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' A basis point is a unit of measurement used to express the change in value of a financial instrument, such as a bond or a loan. One basis point is equal to 0.01%, or one one-hundredth of a percentage point. For example, if the interest rate on a bond increases from 5% to 5.25%, that is an increase of 25 basis points. It is often used in the context of interest rates, yield, and credit spreads. The short-hand for a basis point is bps and on a trading floor you will hear them referred to as ' Read this Term lower than last week's 6.28%. A year ago the 30 year mortgage was at 5.0%. Mortgage rates have decreased for the fifth consecutive month.

The 15 year mortgage averaged 5.54% which was lower than last week's 5.64%. One year ago the 15 year mortgage rate was at 4.17%.

The mortgage rates are focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.