Freddie Mac today released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage averaged 3.65%.
“Mortgage rates rose again this week as lenders increased prices to help manage skyrocketing refinance demand. This is expected to be a short-term phenomenon as lenders work through their backlog,” said Sam Khater, Freddie Mac’s chief economist. “On the purchase front, daily loan purchase applications were rising as of mid-February but started to decline last Friday.”
News Facts
- 30-year fixed-rate mortgage averaged 3.65% with an average 0.7 point for the week ending March 19, 2020, up from last week when it averaged 3.36%. A year ago at this time, the 30-year FRM averaged 4.28%.
- 15-year fixed-rate mortgage averaged 3.06% with an average 0.7 point, up from last week when it averaged 2.77%. A year ago at this time, the 15-year FRM averaged 3.71%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.11% with an average 0.2 point, up from last week when it averaged 3.01%. A year ago at this time, the 5-year ARM averaged 3.84%.
