GSEs: Long Term Rates Again Below 5 Percent
Posted To: MND NewsWire
Mortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year FRM averaged 4.97 percent with an average of 0.7 point compared to an average rate of 5.05 percent with 0.7 point the previous week. The 15-year FRM averaged 4.33 percent, down from 4.40 percent the week before. Fees and points remain unchanged at 0.7 point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) had an average rate of 4.11 percent, down from 4.16 percent during the week ended February 25. Fees and points also declined from 0.6 point to 0.5 point. The one-year Treasury-indexed ARM was the lone exception to the downward trend. The average rate for…(read more)
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