The 15-year fixed-rate mortgage (FRM) has hit a new all-time record low for the week ending March 8, averaging 3.13% with an average 0.8 point, according to new data from Freddie Mac. A year ago at this time, the 15-year FRM averaged 4.15%.
The 30-year FRM averaged 3.88% with an average 0.8 point, down from last week when it averaged 3.9%. Last year at this time, the 30-year FRM averaged 4.88%.Â
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.81% this week, with an average 0.7 point, down from last week when it averaged 2.83%. A year ago, the five-year ARM averaged 3.73%. The one-year Treasury-indexed ARM averaged 2.73% this week with an average 0.6 point, up from last week when it averaged 2.72%. At this time last year, the one-year ARM averaged 3.21%. Â