Mortgage rates tick up amid pandemic-fueled uncertainty

30-year fixed-rate mortgage average 3.33% for the week ending April 23, 2020, up slightly from 3.31% in the previous week and vs. 4.20% at this time a year ago, according to the Freddie Mac Primary Market Survey.

“Mortgage rates have stabilized over the last few weeks as the market searches for direction in the fog of economic data,” said Freddie Chief Economist Sam Khater.

And while financial markets initially rallied on Fed support and improve with the Senate's passage of new small business stimulus, “we continue to see a deep economic contraction amidst uncertainty about the recovery formation.”

15-year FRM averages 2.86% vs. 2.80% a week earlier and 3.64% a year earlier.

5-year Treasury-indexed hybrid adjustable rate mortgage averages 3.28% vs. 3.34% in the previous week and 3.77% a year ago.

Amid an overall stock market rebound, mortgage REITs and most homebuilders are on the rise.