Thirty-Year Fixed Mortgage Rate Moves Lower

By June 14, 2017News

Freddie Mac’s most recent Primary Mortgage Market Survey shows the 30-year fixed mortgage rate inching lower for the third consecutive week and setting a new low for the year.

“In a short week following Memorial Day, the 10-year Treasury yield fell 4 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.94 percent and once again hitting a new 2017 low.”

Here’s a look at Freddie Mac’s survey findings for the week ending June 1:

 

  • The 30-year fixed-rate mortgage averaged 3.94 percent, with an average 0.5 point, down from the previous week when it averaged 3.95 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.66 percent.

 

  • The 15-year fixed-rate mortgage averaged 3.19 percent, with an average 0.5 point, the same as the previous week. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.92 percent.

 

  • The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.11 percent, with an average 0.4 point, up from the previous week when it averaged 3.07 percent. A year ago, the five-year adjustable-rate mortgage averaged2.88 percent.