Freddie Mac reported further easing in mortgage rates in the week ending March 11. The 30-year fixed mortgage rates averaged 4.95%, down two basis points from last week and its lowest level since mid-February.

In the other lending programs, 15-year fixed mortgage rates slipped one basis point to 4.32%, 5/1 hybrid ARMs declined six basis points to 4.05%, while one-year ARMs averaged 4.22%, down five basis points from last week.   

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