U.S. Mortgage Rates Decrease in Late March, Third Consecutive Week

Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.32 percent in late March 2023.

"Economic uncertainty continues to bring mortgage rates down," said Sam Khater, Freddie Mac's Chief Economist. "Over the last several weeks, declining rates have brought borrowers back to the market but, as the spring homebuying season gets underway, low inventory remains a key challenge for prospective buyers."

Freddie Mac News Facts

• 30-year fixed-rate mortgage averaged 6.32 percent as of March 30, 2023, down from last week when it averaged 6.42 percent. A year ago at this time, the 30-year FRM averaged 4.67 percent.
• 15-year fixed-rate mortgage averaged 5.56 percent, down from last week when it averaged 5.68 percent. A year ago at this time, the 15-year FRM averaged 3.83 percent.

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