Fixed-rate mortgages remained near the highest level of the year this week and future rises are likely as bond yields moved higher late Wednesday.
Freddie Mac reported the following for the week ending June 4:
- 30-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.6 point, holding the same average as the week prior. Last year at this time, 30-year rates averaged 4.14 percent.
- 15-year fixed-rate mortgages: averaged 3.08 percent, with an average 0.5 point, dropping from last week’s 3.11 percent average. A year ago, 15-year rates averaged 3.23 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.96 percent, with an average 0.5 point, rising from last week’s 2.90 percent average.
Source: Freddie Mac