U.S. Mortgage Interest Rates Decline Again

Average U.S. mortgage interest rates declined for the second consecutive week, according to Freddie Mac's Primary Mortgage Market Survey.  

The 30-year, fixed rate mortgage loan averaged 4.14 percent, with an average 0.5 point, for the week ending March 30, 2017, down from 4.23 percent the previous week. Rates for the 30-year note averaged 3.71 percent during the same week last year. 

"The 10-year Treasury yield remained relatively flat this week," Freddie Mac chief economist Sean Becketti said. "The 30-year mortgage rate fell 9 basis points to 4.14 percent, another significant week-over-week decline. Despite recent mortgage rate fluctuation, [U.S.] new home sales far exceeded expectations in February and jumped 6.1 percent to an annualized rate of 592,000."

The 15-year, fixed rate mortgage, with an average 0.4 point, averaged 3.39 percent. The five-year, adjustable rate mortgage averaged 3.18 percent, with an average 0.4 point.