US Mortgage Rates Rise in the Week Ending March 19
Average 30-Year Fixed-Rate Mortgage at 6.22%
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, March 19.
The 30-year fixed-rate mortgage averaged 6.22%, up from 6.11% the previous week. A year ago at this time, the 30-year rate averaged 6.67%.
The 15-year fixed-rate mortgage averaged 5.54%, up from 5.50% last week. A year ago at this time, the 15-year rate averaged 5.83%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than the same time last year. Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales.”
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