Silicon Valley Bank collapse could stimulate housing market: Mike Aubrey
The Mike Aubrey Group Executive Vice President Mike Aubrey discusses the impact of recent bank failures on Fed rate hikes and the housing market.
Mortgage rates fell for the first time in six weeks, according to weekly data compiled by Freddie Mac.
The 30-year fixed-rate mortgage (FRM) averaged 6.60% as of Mar. 16, down from 6.73% recorded last week. One year ago, the 30-year FRM averaged 4.16%.
Meanwhile, the 15-year fixed-rate mortgage averaged 5.9%, down from last week when it averaged 5.95%. At the same time in 2022, the 15-year FRM averaged 3.39%.
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