Buying in Bloom: Mortgage Rates Stage for Start of Spring Season

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates reversing course from the previous week and heading lower with the start of the springhome buying season. As of this week, the 30-year fixed has remained below 4 percent for a year.

The survey shows that the 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.8 point for the week ending March 21, 2013, down from last week when it averaged 3.63 percent. Last year at this time, the 30-year FRM averaged 4.08 percent.

Results conclude that 15-year FRM this week averaged 2.72 percent with an average 0.7 point, down from last week when it averaged 2.79 percent. A year ago at this time, the 15-year FRM averaged 3.30 percent.

Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.61 percent this week with an average 0.6 point, the same as last week. A year ago, the 5-year ARM averaged 2.96 percent.

”

For more information, visit www.freddiemac.com

Buying a home in Boulder CO