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On the radar: Freddie Mac fixed mortgage rates up again in April 18 report

The Freddie Mac 30-year fixed mortgage rate was up for a third week in a row, rising to 4.17% after 4.12% in the April 11 data and 4.08% as of the April 4 report.

The 15-year fixed rate was up for a second week, reaching 3.62% after 3.60% in the prior week.

The increases may be enough to nudge some consumers into entering the housing market now, as hopes of a sub-4.0% rate fade and before they go too much higher.

The 5/1-year ARM rate was down 2 basis points to 3.78% from the prior report.

For April to-date, the average rate was 4.12% for 30-year mortgages, 3.59% for 15-year mortgage, and 3.75% for 5/1-year ARMs. The fixed rates were the lowest since 4.03% and 3.48% in January 2018, respectively. The ARM rate was the lowest since 3.66% in April 2018. The increase may be enough to nudge some consumers into entering the housing market now, as hopes of a sub-4.0% rate fade and before they go too much higher.

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