The WPJ
Residential Real Estate News
Mortgage Rates in U.S. Begin Uptick in Mid March
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.36 percent in early March 2020.
"As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked up from last week's all-time low," said Sam Khater, Freddie Mac's Chief Economist. "Mortgage rates remain at extraordinary levels and many homeowners are smartly weighing their options to refinance, potentially saving themselves money."
Freddie Mac News Facts
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"As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked up from last week's all-time low," said Sam Khater, Freddie Mac's Chief Economist. "Mortgage rates remain at extraordinary levels and many homeowners are smartly weighing their options to refinance, potentially saving themselves money."
Freddie Mac News Facts
- 30-year fixed-rate mortgage averaged 3.36 percent with an average 0.7 point for the week ending March 12, 2020, up from last week when it averaged 3.29 percent. A year ago at this time, the 30-year FRM averaged 4.31 percent.
- 15-year fixed-rate mortgage averaged 2.77 percent with an average 0.7 point, down slightly from last week when it averaged 2.79 percent. A year ago at this time, the 15-year FRM averaged 3.76 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent with an average 0.2 point, down from last week when it averaged 3.18 percent. A year ago at this time, the 5-year ARM averaged 3.84 percent.
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