Freddie Mac’s results of its Primary Mortgage Market Survey® shows that “mortgage rates have dipped quite dramatically since the start of the year and house prices continue to moderate, which should help on the homebuyer affordability front. The combination of improving affordability and more inventory than the last few spring selling seasons should lead to improved home sales demand.”
• 30-year fixed-rate mortgage (FRM) averaged 4.28 percent with an average 0.5 points for the week ending March 21, 2019, down from last month when it averaged 4.35 percent. A year ago, at this time, the 30-year FRM averaged 4.45 percent.
• 15-year FRM this week averaged 3.71 percent with an average 0.4 points, down from last month when it also averaged 3.78 percent. A year ago, at this time, the 15-year FRM averaged 3.91 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.84 percent this week with an average 0.3 points, the same as last month when it averaged 3.88 percent. A year ago, at this time, the 5-year ARM averaged 3.68 percent.