Mortgage rates were more or less flat again during the week ended March 29, with the average rate for a 30-year fixed rate mortgage at 4.44%, down slightly from 4.45% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.
A year ago at this time, the 30-year FRM averaged 4.14%.
The average rate for a 15-year FRM was 3.90%, down slightly from 3.91%. A year ago at this time, the 15-year FRM averaged 3.39%.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.66%, down from 3.68%.
“Treasury yields fell from a week ago helping to drive mortgage rates modestly lower,” says Len Kiefer, deputy chief economist for Freddie Mac, in a release. “The yield on the 10-year Treasury dipped below 2.8 percent for the first time since early February of this year. The decline in Treasury yields comes as investors move into safer assets amid increased trade tensions. Following Treasurys, mortgage rates fell slightly. The U.S. weekly average 30-year fixed mortgage rate fell 1 basis point to 4.44 percent in this week’s survey.”