Fixed-rate mortgages reversed course this week, pushing borrowing costs down slightly for home buyers or refinancers, Freddie Mac reports in its weekly mortgage market survey.
Freddie Mac reports the following mortgage rates for the week ending June 19:
- 30-year fixed-rate mortgages: averaged 4.17 percent, with an average 0.6 point, dropping from last week’s 4.20 percent average. Last year at this time, 30-year rates averaged 3.93 percent. For the week ending May 30, the 30-year fixed-rate mortgage averaged 4.12 percent, the low for the year.
- 15-year fixed-rate mortgages: averaged 3.30 percent, with an average 0.5 point, falling slightly from a 3.31 percent average last week. A year ago, 15-year rates averaged 3.04 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3 percent, with an average 0.4 point, dropping from last week’s 3.05 percent average. Last year at this time, 5-year ARMs averaged 2.79 percent.
Source: Freddie Mac