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Mortgage rates got cheaper. Should you refinance? Contact our mortgage broker in San Ramon.

New home sales and mortgage broker San Ramon

Mortgage Rates Got Cheaper This Week

For the second consecutive week, average mortgage rates fell, lowering the borrowing costs of buyers.

“The 10-year Treasury yield remained relatively flat this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate fell 9 basis points to 4.14 percent, another significant week-over-week decline.”

Freddie Mac reports the following national averages with mortgage rates for the week ending March 30:

  • 30-year fixed-rate mortgages averaged 4.14 percent, with an average 0.5 point, falling from last week’s 4.23 percent average. Last year at this time, 30-year rates averaged 3.71 percent.
  • 15-year fixed-rate mortgages averaged 3.39 percent, with an average 0.4 point, falling from last week’s 3.44 percent average. A year ago, 15-year rates averaged 2.98 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.18 percent, with an average 0.4 point, falling from last week’s 3.24 percent average. A year ago, 5-year ARMs averaged 2.90 percent.

Contact our San Ramon mortgage broker for refinancing or new home loan mortgage.