Mortgage Rates Skid To Lowest Level In A Year

Dated: 03/14/2019

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Mortgage rates skidded last week to the lowest level in a year.


Freddie Mac said the 30-year benchmark mortgage rate fell 10 basis points to 4.31% in the week ending March 14.


The 15-year fixed rate fell to 3.76% from 3.83%, while the 5-year hybrid adjustable rate mortgage fell to 3.84% from 3.87%.


“Mortgage rates declined decisively this week amid various market reports, a strong bond auction and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower,” said Sam Khater, chief economist, in a statement.


Housing activity has been lackluster since the summer, with new home sales falling in January. Rates would have to drop significantly lower to spur new activity.


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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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