By Jacob Passy | National Mortgage News
As the temperature have crept up, mortgage rates have gone down, making for a positive start to the spring home-buying season, according to the Freddie Mac Primary Mortgage Market Survey.
Freddie Mac’s weekly survey found that the average 30-year fixed rate mortgage dropped this week to 3.78% from 3.86% the week prior, according to a March 19 news release. This figure is more than 0.5% lower than during the same period in 2014.
For 15-year fixed-rate mortgages, the average rate also fell — albeit just slightly — to 3.06% from 3.10% a week ago. At this same time in 2014, 15-year FRMs stood at an average rate of 3.32%.