by Bill McBride on 3/26/2015 02:01:00 PM
Thursday, March 26, 2015
From Freddie Mac today: Mortgage Rates Move Down Again
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down again across the board. Average fixed rates that continue to run below four percent will help keep affordability high for those in the market to buy a home as we head into the spring homebuying season. ...Click on graph for larger image.
30-year fixed-rate mortgage (FRM) averaged 3.69 percent with an average 0.6 point for the week ending March 26, 2015, down from last week when it averaged 3.78 percent. A year ago at this time, the 30-year FRM averaged 4.40 percent.
15-year FRM this week averaged 2.97 percent with an average 0.6 point, down from last week when it averaged 3.06 percent. A year ago at this time, the 15-year FRM averaged 3.42 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 (34 bps) from the all time low of 3.35% in late 2012, but down from 4.40% a year ago.
The Freddie Mac survey started in 1971. Mortgage rates were below 5% back in the 1950s.
Posted by Bill McBride on 3/26/2015 02:01:00 PM