First Time in 4 Weeks...Mortgage Rates Fall

According to the weekly report from Freddie Mac, Mortgage rates fell for the first time in four weeks. The 30-year fixed rate mortgage averaged 3.75% in the week ending March 5, 2015, down from 3.8% last week; it was 4.28% a year ago. For someone buying a $500,000 home, the difference between buying that home today with a 30-year mortgage instead of a year ago is about $170 a month (less now!).

The 15-year fixed-rate mortgage fell to 3.03% from 3.07%; it was 3.32% a year ago.

 The 5-year Treasury-indexed hybrid adjustable-rate mortgage fell to 2.96% from 2.99%; it was 3.03% a year ago.

 The one-year ARM average remained at 2.44%. It was 2.52% a year ago.