Your real estate market update for Greater Portland!
Marc Chadbourne
May 2020
Real
There Is No Substitute For Experience!


March Real Estate Roundup

Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The Federal Reserve’s swift and significant efforts to stabilize the market were much needed and helped mortgage rates drop for the first time in three weeks. Similar to other segments of the economy, real estate demand is softening. However, the combination of the Fed’s actions and pending economic stimulus will provide substantial support to the mortgage markets."

• 30-year fixed-rate mortgage (FRM) averaged 3.5 percent with an average 0.7 points for the week ending March 26, 2020, down from last month when it averaged 3.51 percent. A year ago, at this time, the 30-year FRM averaged 4.06 percent.

• 15-year FRM this week averaged 2.92 percent with an average 0.6 points, down from last month when it also averaged 3.00 percent. A year ago, at this time, the 15-year FRM averaged 3.57 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.34 percent this week with an average 0.3 points, up from last month when it averaged 3.24 percent. A year ago, at this time, the 5-year ARM averaged 3.75 percent.



Marc Chadbourne,Broker, NAR Green Designation CRS GRI ABR
E-mail: marc@gardnerregroup.com
Website: http://www.marcchadbourne.com
Cell: 207-465-5569
Gardner Real Estate Group
207-427-3637
511 Congress Street
Portland, Maine 04101


Equal Housing Opportunity

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