Mortgage Interest Rates on long-term mortgages fall
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interest rates, Mortgage Interest Rates March 20th, 200830-year fixed-rate mortgage was back under 6% this week: Freddie Mac
CHICAGO (MarketWatch) — Long-term mortgage rates dropped sharply this week, while adjustable-rate mortgages barely budged from last week’s averages, according to Freddie Mac’s weekly survey released Thursday.
The 30-year fixed-rate mortgage averaged 5.87% for the week ending March 20, down from last week’s 6.13% average. The mortgage averaged 6.16% a year ago. The 15-year fixed-rate mortgage averaged 5.27%, down from 5.60%. The mortgage averaged 5.90% a year ago.
But adjustable-rate mortgages moved little. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.56%, down from 5.58% last week. The ARM averaged 5.91% a year ago. And 1-year Treasury-indexed ARMs averaged 5.15%, up just slightly from their 5.14% average last week. The ARM averaged 5.40% a year ago.
Tags: interest rates, Mortgage Interest Rates
