Mortgage Rates Drop in MBA Survey for Week Ending -March 12th; Avg. Rate is at 4.91%; Refinance Activity Was 67.3%

The Mortgage Bankers Association (MBA) announced their most current data (averages for contract interest rates): 

30 Year Fixed Interest Rate = 4.91%
15 Year Fixed Interest Rate = 4.24%
1 Year Adjustable Rate Mortgage = 6.75%

Source: Mortgage Bankers Association (MBA)

The level of refinance activity was reported to be at 67.30% 
of the total activity for the weekly survey.  The level of
refinance activity for week ending March 5th was 67.27%.

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