Freddie Mac has released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage (FRM) averaged 6.42%.“Mortgage rates continued to slide down as financial market concerns came to the fore over the last two weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “However, on the homebuyer front, the news is more positive with improved purchase demand and stabilizing home prices. If mortgage rates continue to slide over the next few weeks, look for a continued rebound during the first weeks of the spring homebuying season.” The 30-year fixed-rate mortgage averaged 6.42% as of March 23, 2023, down from last week when it averaged 6.6%. A year ago at this time, the 30-year FRM averaged 4.42%. The 15-year fixed-rate mortgage averaged 5.68%, down from last week when it averaged 5.9%. A year ago at this time, the 15-year FRM averaged 3.63%. The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.