Freddie Mac: Mortgage Rates Dip Is A Temporary Phenomenon

The drop in mortgage rates this week is only a temporary phenomenon as the recent Fed’s announcements will make the rates to tick back up again soon, notes Freddie Mac. In its Primary Mortgage Market Survey results released Thursday, Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) anticipates interest rates may begin to trend higher going into next week. Fixed mortgage rates move down a tad The report highlights that for the week ending March 20, the average rate for a 30-year fixed-rate mortgage (FRM) was 4.32%, down from 4.37% the week prior. However, a year ago this time,…