The WPJ
Residential Real Estate News
U.S. Mortgage Rates Drop for First Time in 2018
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed mortgage rate in the U.S. dropped after nine consecutive weeks of increases in late March 2018.
Len Kiefer, Deputy Chief Economist said, "Tuesday's Consumer Price Index report indicated inflation may be cooling down; headline consumer price inflation was 2.2 percent year-over-year in February. Following this news, the 10-year Treasury fell slightly. Mortgage rates followed Treasurys and ended a nine-week surge. The U.S. weekly average 30-year fixed mortgage rate fell 2 basis points to 4.44 percent in this week's survey, its first decline this year."
Freddie Mac News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.44 percent with an average 0.5 point for the week ending March 15, 2018, down from last week when it averaged 4.46 percent. A year ago at this time, the 30-year FRM averaged 4.30 percent.
- 15-year FRM this week averaged 3.90 percent with an average 0.5 point, down from last week when it averaged 3.94 percent. A year ago at this time, the 15-year FRM averaged 3.50 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.67 percent this week with an average 0.4 point, up from last week when it averaged 3.63. A year ago at this time, the 5-year ARM averaged 3.28 percent.
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