Mortgage Rates Still Near Record Lows

Fixed-rate mortgages continued to hover near all-time lows, keeping home buyer affordability high. 

Freddie Mac reports the following averages in this week’s mortgage market survey: 

• 30-year fixed-rate mortgages: 
averaged 3.55 percent, with an average 0.7 point, dropping from last week’s 3.59 percent average. A year ago at this time, 30-year rates averaged 4.12 percent. 

• 15-year fixed-rate mortgages: 
averaged 2.86 percent, with an average 0.6 point, holding steady from last week’s average. A year ago, 15-year rates averaged 3.33 percent. 

• 5-year adjustable-rate mortgages: 
averaged 2.75 percent, with an average 0.7 point, dropping from last week’s 2.78 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.

• 1-year ARMs: 
averaged 2.61 percent, with an average 0.4 point, falling from last week’s 2.63 percent average. A year ago, 1-year ARMs averaged 2.84 percent.

Source: Freddie Mac