For the first time this year, fixed interest rates on residential loans turned lower. But the story was different for adjustable-rate mortgages.

During the seven-day period that concluded on March 15, thirty-year fixed rates averaged 4.44 percent, according to Freddie Mac’s Primary Mortgage Market Survey.

Long-term rates retreated by 2 basis points from the preceding week — marking the first time this year that a week-over-week decline was recorded for the 30 year.

Source: Mortgage Daily