According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates rose in early March 2019, after weeks of moderating.
Sam Khater, Freddie Mac's chief economist, says, "While mortgage rates very modestly rose to 4.41 percent this week, they remain below year-ago levels for the fourth week in a row. In late 2018, mortgage rates rose over a full percentage point from the prior year, which was one of the main reasons that weakness in home sales continued into early 2019. However, the impact of recent lower rates and a strong labor market has led to a rise in purchase mortgage demand as we start the spring homebuying season."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.41 percent with an average 0.5 point for the week ending March 7, 2019, up from last week when it averaged 4.35 percent. A year ago at this time, the 30-year FRM averaged 4.46 percent.
15-year FRM this week averaged 3.83 percent with an average 0.4 point, up from last week when it averaged 3.77 percent. A year ago at this time, the 15-year FRM averaged 3.94 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87 percent with an average 0.3 point, up from last week when it averaged 3.84 percent. A year ago at this time, the 5-year ARM averaged 3.63 percent.
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. dropped 10 basis points to 4.31 percent. Mortgage rates declined decisively this week amid various market reports.
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According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates held steady in the last week of February, after declining for three consecutive weeks. Mortgage rates remained mostly unchanged this week.
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