US Mortgage Rates Creep Higher in the Week Ending March 13
Mortgage Rates Remained Essentially Flat This Week
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, March 13.
The 30-year fixed-rate mortgage averaged 6.65%, up from last week when it averaged 6.63%. A year ago at this time, the 30-year rate averaged 6.88%.
The 15-year fixed-rate mortgage averaged 5.80%, up from last week when it averaged 5.79%. A year ago at this time, the 15-year rate averaged 6.16%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Despite volatility in the markets, the 30-year fixed-rate mortgage remained essentially flat from last week. Mortgage rates continue to be relatively low versus the last few months, and homebuyers have responded. Purchase applications are up 5% as compared to a year ago. The combination of modestly lower mortgage rates and improving inventory is a positive sign for homebuyers in this critical spring homebuying season.”
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