by Bill McBride on 3/19/2015 07:01:00 PM
Thursday, March 19, 2015
From Freddie Mac today: Mortgage Rates Move Down as We Head Into Spring
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down across the board. The average 30-year fixed mortgage rate continues its run below 4 percent -- a good sign for the spring homebuying season. ...Click on graph for larger image.
30-year fixed-rate mortgage (FRM) averaged 3.78 percent with an average 0.6 point for the week ending March 19, 2015, down from last week when it averaged 3.86 percent. A year ago at this time, the 30-year FRM averaged 4.32 percent.
15-year FRM this week averaged 3.06 percent with an average 0.6 point, down from last week when it averaged 3.10 percent. A year ago at this time, the 15-year FRM averaged 3.32 percent.
This graph shows the 30 year and 15 year fixed rate mortgage interest rates from the Freddie Mac Primary Mortgage Market Survey®.
30 year mortgage rates are up a little (43 bps) from the all time low of 3.35% in late 2012, but down from 4.32% a year ago.
The Freddie Mac survey started in 1971. Mortgage rates were below 5% back in the 1950s.
Posted by Bill McBride on 3/19/2015 07:01:00 PM