After falling to the lowest levels this year, fixed mortgage rates further retreated. The outlook for the next interest rate report is for no further declines.

Average 30-year note rates on residential loans closed during March were 4.39 percent, up from 4.36 percent a month earlier and 4.12 percent a year earlier.

Last month’s average was 4.50 percent on conventional loans, 4.32 percent on Federal Housing Administration-insured loans and 4.10 percent on Department of Veterans Affairs loans.

Source: Mortgage Daily