Mortgage rates continue climb toward pre-COVID levels

Apr 4, 2021
Pictured is a lot that recently sold in Norman. Thirty year mortgage rates are on the rise.
Kyle Phillips / The Transcript
The rate for a 30-year mortgage is increasing to the highest level since June, but that doesn’t seem to be slowing the market in Norman, according to local experts.
According to weekly data released by federally chartered home loan mortgage corporation Freddie Mac, 30-year fixed-rate mortgages averaged 3.18% for the week ending April 1, after dropping to a record low 2.65% in January.
Rob Schaerer, broker and associate of Dillard Group Real Estate and 360 Realty, said a client of his recently locked in at 3%, and the rate one actually receives depends on the area, among other factors.

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