Fixed-Rate Mortgages Continue to Move Lower in the Week Ending March 14th
Mortgage Rates Continue to Decrease
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending March 14th.
The 30-year fixed-rate mortgage averaged 6.74%, down from last week when it averaged 6.88%. A year ago at this time, the 30-year rate averaged 6.60%.
The 15-year fixed-rate mortgage averaged 6.16%, down from last week when it averaged 6.22%. A year ago at this time, the 15-year rate averaged 5.90%.
Commenting on the results of the latest survey, Freddie Mac Chief Economist Sam Khater said,
“The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a quarter of a percent in two weeks’ time. Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation. In this environment, there is a good possibility that rates will stay higher for a longer period of time.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.