Mortgage rates fall due to ‘geopolitical tensions’

MCLEAN, Va. — Freddie Mac’s Primary Mortgage Market Survey (PMMS), released Thursday, shows that the 30-year fixed-rate mortgage (FRM) averaged 3.76%.

“Geopolitical tensions caused U.S. Treasury yields to recede this week as investors moved to the safety of bonds, leading to a drop in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. “While inflationary pressures remain, the cascading impacts of the war in Ukraine have created market uncertainty. Consequently, rates are expected to stay low in the short-term but will likely increase in the coming months.”

  • 30-year fixed-rate mortgage averaged 3.76% with an average 0.8 point for the week ending March 3, 2022, down from last week when it averaged 3.89%. A year ago at this time, the 30-year FRM averaged 3.02%.
  • 15-year fixed-rate mortgage averaged 3.01% with an average 0.8 point, down from last week when it averaged 3.14%. A year ago at this time, the 15-year FRM averaged 2.34%.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.91% with an average 0.3 point, down from last week when it averaged 2.98%. A year ago at this time, the 5-year ARM averaged 2.73%.

Get our free newsletter

Join thousands of other lumber and building material industry leaders and keep up with the companies, people, products and issues shaping the industry.

What's New

Digital Partners

Become a digital partner ...

Sales Comp Study

Download this 55-page, in-depth study by LBM Journal of industry trends in sales force compensation and benefits. See how your organization stacks up.

Webinars

- Advertisement -

White Papers

View all ...

- Advertisement -

Partner Content

View all ...

- Advertisement -

Registration is now open for the LBM Strategies 2024 Conference