Fixed Mortgage Rates Match All-time Record Lows
June 28, 2012
Average fixed mortgage rates largely unchanged over the past week, helping to keep homebuyer affordability high for those in the market to purchase or looking to refinance, according to the latest Freddie Mac Primary Mortgage Market Survey. Both the 30-year fixed and 15-year fixed rate mortgages matched their all-time record lows.
The 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.7 point for the week ending June 28, the same as last week. Last year at this time, the 30-year FRM averaged 4.51 percent.
Meanwhile, the 15-year FRM this week averaged 2.94 percent with an average 0.7 point, down from last week when it averaged 2.95 percent. A year ago at this time, the 15-year FRM averaged 3.69 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.79 percent this week, with an average 0.6 point, up from last week when it averaged 2.77. A year ago, the 5-year ARM averaged 3.22 percent.
The 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.4 point, the same as last week. At this time last year, the 1-year ARM averaged 2.97 percent.