Freddie Mac's results of its Primary Mortgage Market Survey® shows that "During the course of the pandemic, 'home' has become more important than ever. As a result, strong purchase demand continues—but buyers also outnumber the sellers. Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. Unfortunately, this has disproportionately affected the low end of the market, where supply is the slimmest."
• 30-year fixed-rate mortgage (FRM) averaged 3.17 percent with an average 0.7 points for the week ending March 25, 2021, up from last month when it averaged 2.97 percent. A year ago, at this time, the 30-year FRM averaged 3.5 percent.
• 15-year FRM this week averaged 2.45 percent with an average 0.6 points, up from last month when it averaged 2.34 percent. A year ago, at this time, the 15-year FRM averaged 2.92 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84 percent this week with an average 0.2 points, down from last month when it averaged 2.99 percent. A year ago, at this time, the 5-year ARM averaged 3.34 percent.