Freddie Mac announced in their Primary Mortgage Market Survey that average fixed rate mortgages declined after three weeks of increasing rates. Here are the results:
15 year fixed rate mortgage – averaged 2.73 %
30 year fixed rate mortgage – averaged 2.74%
A lot of borrowers are still taking advantage of these rates by refinancing. The Mortgage Bankers Association shows refinance activity has increased 55 % from last year at this time.