Mortgage Rates Continue to Slide Down

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of 3/23/2023

MCLEAN, Va., March 23, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent.

“Mortgage rates continued to slide down as financial market concerns came to the fore over the last two weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “However, on the homebuyer front, the news is more positive with improved purchase demand and stabilizing home prices. If mortgage rates continue to slide over the next few weeks, look for a continued rebound during the first weeks of the spring homebuying season.”

News Facts

• 30-year fixed-rate mortgage averaged 6.42 percent as of March 23, 2023, down from last week when it averaged 6.60 percent. A year ago at this time, the 30-year FRM averaged 4.42 percent.
• 15-year fixed-rate mortgage averaged 5.68 percent, down from last week when it averaged 5.90 percent. A year ago at this time, the 15-year FRM averaged 3.63 percent.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:

Angela Waugaman

703-714-0644

Angela_Waugaman@FreddieMac.com

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