Freddie Mac: 15-Year FRM Falls Below 3% Barrier

Posted by Orb Staff on May 31, 2012 No Comments
Categories : Residential Mortgage

11673_down1 Freddie Mac: 15-Year FRM Falls Below 3% Barrier New record lows were recorded as the 15-year fixed-rate mortgage (FRM) averaged an unprecedented 2.97% for the week ending May 31, bringing three of the four benchmark mortgage rates below 3% for the first time in Freddie Mac's weekly survey.

The 15-year FRM this week averaged 2.97% with an average 0.7 point, down from last week when it averaged 3.04%. A year ago at this time, the 15-year FRM averaged 3.74%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84% this week, with an average 0.6 point, up from last week when it averaged 2.83%. A year ago, it averaged 3.41%.

The one-year Treasury-indexed ARM averaged 2.75% this week with an average 0.4 point, unchanged from last week. At this time last year, it averaged 3.13%. Â

Above the 3% mark was the 30-year FRM, which averaged 3.75% with an average 0.8 point for the week, down from 3.78% last week and down from 4.55% one year ago.

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