The average 30-year and 15-year fixed-rate mortgages (FRMs) continue to hit all-time record lows, along with the five-year adjustable-rate mortgage (ARM), according to new data from Freddie Mac.
The 30-year FRM averaged 3.53% with an average 0.7 point for the week ending July 19, down from last week when it averaged 3.56%. Last year at this time, the 30-year FRM averaged 4.52%.Â
The 15-year FRM this week averaged 2.83% with an average 0.6 point, down from last week when it averaged 2.86%. A year ago at this time, the 15-year FRM averaged 3.66%.Â
The five-year Treasury-indexed hybrid ARM averaged 2.69% this week with an average 0.6 point, down from last week when it averaged 2.74%. A year ago, it averaged 3.27%.
The one-year Treasury-indexed ARM averaged 2.69% this week with an average 0.4 point, the same as last week. At this time last year, it averaged 2.97%.Â Â
The average 30-year FRM has been below 4% all but one week in 2012. The average 15-year FRM has been below 3% for eight consecutive weeks.