Mortgage Rates Drop Even Lower

Just another sign that it's a great time to purchase a home. If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com.

Mortgage Rates Drop Even Lower This Week
DAILY REAL ESTATE NEWS | FRIDAY, MARCH 27, 2015

For the second consecutive week, mortgage rates continued to fall, with the 30-year fixed-rate mortgage still well below 4 percent and 15-year rates dipping below 3 percent, Freddie Mac reports in its weekly mortgage market survey.
"Low mortgage rates are a welcome sign for those in the market to buy a home this spring season and will help to support homebuyer affordability," says Len Kiefer, deputy chief economist at Freddie Mac.

Freddie Mac reports the following national averages with mortgage rates for the week ending March 26:
  • 30-year fixed-rate mortgages: averaged 3.69 percent, with an average 0.6 point, dropping from last week's 3.78 percent average. Last year at this time, 30-year fixed-rates averaged 4.40 percent.
  • 15-year fixed-rate mortgages: averaged 2.97 percent, with an average 0.6 point, dropping from last week's 3.06 percent average. A year ago, 15-rates averaged 3.42 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.92 percent, with an average 0.4 point, dropping from last week's 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.10 percent.
  • 1-year ARMs: averaged 2.46 percent, with an average 0.4 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.44 percent.

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