Freddie Survey Finds Rates Under 5% Again

The average rate for a 30-year fixed rate mortgage dipped back below 5% once again during the week ended March 4, according to Freddie Mac's Primary Mortgage Market Survey. Rates are now back at levels seen two weeks ago, according to Frank Nothaft, Freddie Mac vice president and chief economist. The average 30-year FRM rate in the latest week was 4.97%, down from 5.05% the week previous and 5.15% a year ago. The average weekly 15-year FRM rate was 4.33%, down from 4.40% the previous week and 4.72% a year ago. The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage was 4.11%, down from 4.16% the previous week and 5.08% a year ago. The average one-year Treasury ARM rate was 4.27%, up from 4.15% the previous week but down from 4.86% a year ago. Average points were 0.7 for the two fixed rate products and 0.6 for five-year Treasury hybrids and one-year Treasury ARMs.