Average fixed-rate mortgages ended their six-week streak of record-setting lows, according to Freddie Mac’s weekly mortgage survey.
Still, mortgage rates remain near the historic lows helping to keep homebuyer affordability high, and providing an incentive to refinance.
The 30-year fixed-rate mortgage averaged 3.71% with an average 0.7 point for the week ending June 14, up from last week when it averaged 3.67%. Last year at this time, the 30-year FRM averaged 4.5%.
The 15-year FRM averaged 2.98% with an average 0.7 point, up from last week when it averaged 2.94%. A year ago, it averaged 3.67%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.8%, with an average 0.6 point, down from last week when it averaged 2.84%. A year ago, the 5-year ARM averaged 3.27%.
The 1-year Treasury-indexed ARM averaged 2.78% this week with an average 0.5 point, down from 2.79% last week and 2.97% a year ago.
