U.S. 30-year FRM averaged 6.79% as of March 28, 2024, down from last week when it averaged 6.87%. A year ago at this time, the 30-year FRM averaged 6.32%, according to Freddie Mac.
The 15-year FRM averaged 6.11%, down from last week when it averaged 6.21%. A year ago at this time, the 15-year FRM averaged 5.56%.
“Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers,” said Sam Khater, Freddie Mac’s Chief Economist. “We also are seeing encouraging data on existing home sales, which reflects improving inventory. Regardless, rates remain elevated near seven percent as markets watch for signs of cooling inflation, hoping that rates will come down further.”
