The average rate for a conforming 30-year mortgage increased 12 basis points over the past week to 3.80 percent, up 21 basis point from a 3.59 percent 21-month low in February but 41 basis points below the 4.21 percent average rate at the same time last year.
The 30-year rate, which hit an all-time low of 3.31 percent in November 2012, and a three-year high of 4.58 percent in August 2013, has averaged roughly 6.7 percent over the past twenty years.
credit: socketsite