US Mortgage Rates Little Changed in the Week Ending March 5
Mortgage Rates Hold Steady
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, March 5.
The 30-year fixed-rate mortgage averaged 6.00%, up from 5.98% the previous week. A year ago at this time, the 30-year rate averaged 6.63%.
The 15-year fixed-rate mortgage averaged 5.43%, down from 5.44% last week. A year ago at this time, the 15-year rate averaged 5.79%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates held steady at 6% this week, hovering near their lowest level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers, and owners. As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.”
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