30-Year Fixed-Rate Mortgage Dips Back Below 4 Percent
March 29, 2012
Fixed and adjustable mortgage rates moved lower on weaker housing economic indicators, according to the latest Freddie Mac Primary Mortgage Market Survey.
The 30-year fixed-rate mortgage (FRM) averaged 3.99 percent with an average 0.7 point for the week ending March 29, down from last week when it averaged 4.08 percent. Last year at this time, the 30-year FRM averaged 4.86 percent.
Meanwhile, the 15-year FRM this week averaged 3.23 percent with an average 0.8 point, down from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 4.09 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.90 percent this week, with an average 0.8 point, down from last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 3.70 percent.
The 1-year Treasury-indexed ARM averaged 2.78 percent this week with an average 0.6 point, down from last week when it averaged 2.84 percent. At this time last year, the 1-year ARM averaged 3.26 percent.