The average 30-year-fixed rate mortgage declined to 3.76% for the week ending March 3, down from 3.89% in the previous week, amid the geopolitical tensions caused by Russia’s war in Ukraine, according to the latest Freddie Mac PMMS Mortgage Survey.

A year ago, the 30-year fixed-rate mortgage averaged 3.02%. The PMMS report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. The survey said buyers paid for 0.8 points on average.

According to Sam Khater, Freddie Mac’s chief economist, investors moved to the safety of bonds due to the geopolitical conflict, leading details ⇒

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