Fixed-rate mortgages moved higher this week, increasing to the highest level of the year, Freddie Mac reports in its weekly mortgage market survey.
Freddie Mac reports the following for the week ending May 28:
- 30-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.6 point, rising from last week’s 3.84 percent average. Last year at this time, 30-year rates averaged 4.12 percent.
- 15-year fixed-rate mortgages: averaged 3.11 percent, with an average 0.5 point, up from last week’s 3.05 percent average. A year ago, 15-year rates averaged 3.21 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.90 percent, with an average 0.5 point, increasing from last week’s 2.88 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.
Source: Freddie Mac