For the week ending March 23, 30-year rates fell to 6.42% from 6.60% the week before.

Rates continued to ease in the past week as the bank sector issues constrained the Fed’s actions and statement -- as the markets expected. For the week ending March 23, 30-year rates fell to 6.42% from 6.60% the week before. In addition, 15-year loans decreased to 5.68%. A year ago, 30-year fixed rates averaged 4.42%, exactly 2.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates continued to slide down as financial market concerns came to the fore over the last two weeks. However, on the homebuyer front, the news is more positive with improved purchase demand and stabilizing home prices. If mortgage rates continue to slide over the next few weeks, look for a continued rebound during the first weeks of the spring homebuying season.” Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

Current Indices for Adjustable Rates
Updated March 24, 2023