Interest rates climbed just barely for the second week in a row, according to Freddie Mac, which does a weekly survey on rates. The 30-year fixed-rate mortgage rose to 6.67%, up just 0.02% from the week before.
The 15-year fixed rate mortgage also inched up to 5.83%, up 0.03% from the week before. The good news is that rates are remaining relatively stable, said Sam Khater, Freddie Mac’s chief economist, in a statement.
“The 30-year fixed-rate mortgage has stayed under 7% for nine consecutive weeks, which is helpful for potential buyers and sellers alike,” Khater said.
Rates are down from the same week a year ago. The 30-year fixed-rate mortgage averaged 6.87% for the same week in 2024. The 15-year fixed-rate mortgage average was 6.21%.
Last week, the 30-year rate also rose 0.02%. While it was a small movement, barely any at all, the increase led to a slowdown in refinances, according to the Mortgage Bankers Association. Overall, mortgage applications dropped 6.2% for the week ending March 14 compared to the week prior.
