Mortgage Rates Mixed; 30-Year Fixed Ticks Up to 4.50 Percent
|June 16, 2011|
Fixed mortgages rates changed slightly despite recent inflation reports, according to Freddie Mac’s latest Primary Mortgage Market Survey. After declining for eight consecutive weeks, the 30-year fixed ticked up for the week ending June 16, while the 15-year inched down again to 3.67 percent, the report showed.
The 30-year fixed-rate mortgage (FRM) averaged 4.50 percent with an average 0.7 point for the past week, up from last week’s average of 4.49 percent. Last year at this time, the 30-year FRM averaged 4.75 percent.
Meanwhile, the 15-year FRM this week averaged 3.67 percent with an average 0.7 point, down from last week when it averaged 3.68 percent. A year ago at this time, the 15-year FRM averaged 4.20 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.27 percent this week, with an average 0.6 point, down from last week when it averaged 3.28 percent. A year ago, the 5-year ARM averaged 3.89 percent. The 1-year Treasury-indexed ARM averaged 2.97 percent this week with an average 0.5 point, up from last week when it averaged 2.95 percent. At this time last year, the 1-year ARM averaged 3.82 percent.