Mortgage rates tick up from all-time low

30-year fixed-rate mortgage rate averages 3.36% for the week ending March 12 vs. 3.29% in the previous week and 4.31% a year ago at this time last year, according to the Freddie Mac Primary Mortgage Market Survey.

“As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked up from last week’s all-time low,” said Freddie Chief Economist Sam Khater.

15-year FRM rate averages 2.77% vs. 2.79% in the previous week and 3.76% a year ago.

5-year Treasury-indexed hybrid adjustable rate mortgage rate averages 3.01% vs. 3.18% the previous week and 3.84% a year ago.

With the surge in refinancing, there's no love in the markets for homebuilders amid the economic uncertainty sparked by the coronavirus.