Mortgage Rates Remain Near 2016 Lows

Mortgage rates showed little movement this week, holding near the lows for the year.

Freddie Mac reports the following national averages for the week ending May 19:

30-year fixed-rate mortgage (FRM) averaged 3.58 percent with an average 0.6 point for the week ending May 19, 2016, up from last week when it averaged 3.57 percent. A year ago at this time, the 30-year FRM averaged 3.84 percent.

15-year fixed-rate mortgage (FRM) this week averaged 2.81 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.05 percent.

Source: Freddie Mac