Weekly Mortgage Rates Fall as Buying Season Heats Up
It was a well-timed week for mortgage rates to stabilize: The 30-year mortgage averaged 6.77% in the week ending March 27, down three basis points from the previous week. A basis point is one one-hundredth of a percentage point. A three-basis-point decline sounds kind of measly, but it stopped a two-week streak of rising rates.