Mortgage Rates Decline
Tuesday, March 19, 2019
Freddie Mac’s Primary Mortgage Market Survey released last week show that the 30-year fixed-rate mortgage dropped 10 basis points to 4.31 percent.
Sam Khater, Freddie Mac’s chief economist, said, “At 4.31 percent, the average 30-year fixed mortgage rate is at its lowest since February of last year. While these low rates will certainly get the attention of prospective homebuyers, the supply of homes for sale remains stubbornly low.”
- 30-year fixed rate mortgage averaged 4.31 percent with an average 0.4 point for the week ending March 14, 2019, down from the prior weekly survey when it averaged 4.41 percent. A year ago the 30-year FRM averaged 4.44 percent.
- 5-year FRM averaged 3.76 percent with an average 0.4 point, down from the prior report when it averaged 3.83 percent. A year ago at this time, the 15-year FRM averaged 3.90 percent.
- 5-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 3.84 percent with an average 0.3 point, down from 3.87 percent. A year ago at this time, the 5-year ARM averaged 3.67 percent.