Mortgage Interest Rates Fall to 13-Month Low

Long-term U.S. mortgage interest rates fell to their lowest point in over a year, according to Freddie Mac.

The average rate on a 30-year fixed-rate mortgage dropped to 4.28% with an average 0.4 point during the week ended March 21, 2019, down from 4.31% the week before and the lowest level since February 2018. Rates on 15-year FRMs also fell, declining to 3.71% with an average of 0.4 point, down from 3.76%. The 5-year Treasury ARM was unchanged at a rate of 3.84% with an average 0.3 point.