Freddie Mac: Conventional Mortgage Rates Move Higher

Posted by Patrick Barnard on May 07, 2015 No Comments
Categories : Residential Mortgage

Long-term conventional mortgage rates moved higher during the week ended May 7, according to Freddie Mac's Primary Mortgage Market Survey.

The average rate for a 30-year fixed-rate mortgage (FRM) was 3.8%, up from 3.68% the previous week. A year ago at this time, the 30-year FRM averaged 4.21%.

The average rate for a 15-year FRM was 3.02%, up from the previous week's 2.94%. A year ago, the 15-year FRM averaged 3.32%.

Hybrid adjustable-rate mortgages (ARMs) were mixed.

The average rate for a five-year Treasury-indexed hybrid ARM was 2.9%, up from 2.85% the week prior. A year ago, the five-year ARM averaged 3.05%.

The average rate for a one-year Treasury-indexed ARM was 2.46%, down from 2.49% the previous week. Last year, the one-year ARM averaged 2.43%.

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