March Mortgage Rates

Mortgage rates remained the same when compared to last month.  That’s a good thing as these rates are incredibly good, and, as mentioned in the video below, we are heading into the busiest part of the home buying season.  Freddie Mac predicts this to be the best year in homes sales and new home construction since 2007!

Mortgage Rates as of 3/20/15

Mortgage Type March 2015 February 2015
30-Year Fixed 3.692% APR 3.692% APR
15-Year Fixed  3.090% APR 3.090% APR
30-Year FHA  4.324% APR 4.324% APR
5/1-Year ARM 2.849% APR 2.849% APR
30-Year Fixed Jumbo  3.551% APR 3.551% APR

Source: totalmortgage.com

 

Check out this informative video from the Deputy Chief Economist at Freddy Mac:

Job growth, high affordability, rising rents and wider credit availability all contribute to a great home buying season.  This is a great time to buy or sell your home. Please contact me to begin your search for the perfect property today.

 

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