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.
According to the Mortgage Bankers Association's latest Commercial/Multifamily Delinquency Report, commercial and multifamily mortgage delinquencies in the U.S. remained at a low rate in the final three months of 2018.
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending March 1, 2019, mortgage applications in the U.S. decreased 2.5 percent from one week earlier.
Sales of new homes in all four major U.S. regions significantly declined in the last two months of 2018. The year-over-year trend was especially drastic in the Northeast, where new-home sales fell by 16.1 percent in December.
According to the National Association of Realtors, Existing-home sales in the U.S. increased in November 2018 for the second month in a row. Three of four major U.S. regions also saw gains in sales activity last month.
According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released this week, a modest increase in interest rates and home prices kept housing affordability at a 10-year low in the third quarter of 2018.