Freddie Mac’s most recent Primary Mortgage Market Survey (PMMS) shows that the 30-year fixed-rate mortgage (FRM) averaged 3.17 percent for the week ending March 25.
This figure is up from last week, when it averaged 3.09 percent. A year ago at this time, the 30-year FRM averaged 3.5 percent.
“Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential home buyers with less purchasing power,” explains