Mortgage rates Freddie Mac March 2017

According to mortgage rates followed by Freddie Mac, the mortgage giant backed by the US government, mortgage rates decreased by 7 basis points in the most recent survey.  The 30 year fixed rate mortgage decreased to 4.23% which is a lower mortgage rate than last weeks 4.30%.  Keep in mind that places like the midwest generally have lower mortgage rates compared to places like Florida and California.  Mortgage rates tend to be higher in Florida and California because of higher default rates for fixed and adjustable rate mortgages.  That being said; you can still obtain a low mortgage rate in California or Florida.

Refinance and purchase mortgage rates are generally the same; however sometimes mortgage lenders will offer a small incentive on purchase fixed and adjustable rate mortgages.  The 10 year treasury yield, fixed and adjustable rate mortgages sometimes follow in the same direction, is lower this week however lenders are still seeing below average mortgage volume.