U.S. 30-year FRM averaged 6.74% as of March 14, 2024, down from last week when it averaged 6.88%. A year ago at this time, the 30-year FRM averaged 6.60%, according to Freddie Mac.
The 15-year FRM averaged 6.16%, down from last week when it averaged 6.22%. A year ago at this time, the 15-year FRM averaged 5.90%.
“The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a quarter of a percent in two weeks’ time,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation. In this environment, there is a good possibility that rates will stay higher for a longer period of time.”
