Freddie Mac: Mortgage Rates Tick Back Down After Rising Four Weeks Straight

Posted by Patrick Barnard on March 06, 2015 No Comments
Categories : Residential Mortgage

After climbing the previous four weeks, mortgage rates ticked back down during the week ended March 5, according to Freddie Mac's Primary Mortgage Market Survey.

The average rate for a 30-year fixed-rate mortgage (FRM) was 3.75%, down from 3.80% the previous week. A year ago at this time, the 30-year FRM averaged 4.28%.

The average rate for a 15-year FRM this week was 3.03%, down from 3.07% the week prior. A year ago at this time, the 15-year FRM averaged 3.32%.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 2.96%, down from 2.99% the previous week. A year ago, the five-year ARM averaged 3.03%.

The average rate for a one-year Treasury-indexed ARM was 2.44%, unchanged from the previous week. At this time last year, the one-year ARM averaged 2.52%.

‘Mortgage rates fell across the board, with the 30-year FRM reading 3.75 percent this week,’ says Len Kiefer, deputy chief economist, Freddie Mac. ‘Real GDP growth for the fourth quarter was revised down to 2.2 percent. Consumer prices fell more than expected in January, tumbling 0.7 percent.’

Register here to receive our Latest Headlines email newsletter

Leave a Comment