The University of Michigan Consumer Sentiment Index increased 3.3% in March compared to the month prior, landing at 79.4, according to final results for the month. The March figure was up 28.1% from a year ago. The current conditions component of the index increased 3.9% from the month prior, landing at 82.5, while the consumer expectations index rose 2.9% to 77.4.
Mortgage rates fall
The rate for a 30-year fixed-rate mortgage averaged 6.94% this week, down from last week when it averaged 7.02%.