Mortgage rates inched upward this week, with fixed-rate mortgages returning to averages at the start of the year, Freddie Mac reports in its weekly mortgage market survey.
Still, the 30-year fixed-rate mortgage continues to average below 4 percent, a threshold it has remained below since the week ending Nov. 13, 2014, Freddie Mac reports.
Freddie Mac reports the following national averages for the week ending March 12:
- 30-year fixed-rate mortgages: averaged 3.86 percent, with an average 0.6 point, rising from last week’s 3.75 percent average. Last year at this time, 30-year fixed-rate mortgages averaged 4.37 percent.
- 15-year fixed-rate mortgages: averaged 3.10 percent, with an average 0.6 point, rising from last week’s 3.03 percent average. A year ago, 15-year rates averaged 3.38 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.01 percent, with an average 0.5 point, rising from last week’s 2.96 percent average. Last year at this time, 5-year ARMs averaged 3.09 percent.
Source: Freddie Mac