Mortgage Rates Edge Higher Again

DAILY REAL ESTATE NEWS | FRIDAY, MARCH 18, 2016

Mortgage rates inched higher for the third consecutive week, but potential home buyers shouldn’t sweat it too much. Mortgage rates are still hovering below levels from a year ago. 

Freddie Mac reports the following national averages with mortgage rates for the week ending March 17:

  • 30-year fixed-rate mortgages: averaged 3.73 percent, with an average 0.5 point, rising from last week’s 3.68 percent average. Last year at this time, 30-year rates averaged 3.78 percent.
  • 15-year fixed-rate mortgages: averaged 2.99 percent, with an average 0.4 point, increasing from last week’s 2.96 percent average. A year ago, 15-year rates averaged 3.06 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.93 percent, with an average 0.5 point, increasing from last week’s 2.92 percent average. A year ago, 5-year ARMs averaged 2.97 percent.

Source: Freddie Mac