‘Customers of a Median-Price Residence Are Taking A Look At a Month-to-month Mortgage Repayment That Is Nearly 50% More than It Was a Year Ago.’ The 30-Year Home Loan Price Dips Slightly to 5.1%.

The rate of interest on the nation’s benchmark home loan product bordered downward for the first time considering that early March, yet that does not indicate the housing market will certainly see a reprieve.

The 30-year fixed-rate home loan averaged 5.1% for the week ending April 28, according to data launched by Freddie Mac on Thursday. That’s down one basis factor from the previous week– one basis factor amounts to one hundredth of a percent factor, or 1% of 1%.

Recently was the first time that mortgage prices had exceeded 5% since 2011. A year, the average rate on the 30-year home loan was listed below 3%.