Mortgage Rates Are Actually LOWER This Week

It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality.  To be fair, it's not that Freddie isn't participating in reality.  It's just not the same version of reality you might prefer if you are in need of more timely updates on rate trends.

Freddie logged a big increase over last week, which makes sense considering last week's survey was much lower than it should have been due to Freddie's methodology and timing (we discussed it here: https://www.mortgagenewsdaily.com/markets/mortgage-rates-03152024).

This time around, Freddie's survey is averaging the 5 days from last Thursday through yesterday.  Today's rate is lower than all of those with the average lender back into the high 6's.  

NOTE: Freddie also has their rate in the high 6's, but it tends to run much lower than the MND rate because it doesn't include any impact for points or special loan programs.  This is one of the many reasons we say the best way to follow a rate index is to observe the CHANGE over time as opposed to outright levels.