Freddie Mac: Fixed-Rate Mortgages Hit Another Record Low

Posted by Orb Staff on May 17, 2012 No Comments
Categories : Residential Mortgage

11581_down1 Freddie Mac: Fixed-Rate Mortgages Hit Another Record Low Last week's record-low fixed-rate mortgage (FRM) rates were broken this week, according to new Freddie Mac data.

The 30-year FRM averaged 3.79% with an average 0.7 point for the week ending May 17, down from last week when it averaged 3.83%. Last year at this time, the 30-year FRM averaged 4.61%.Â

The 15-year FRM this week averaged 3.04% with an average 0.7 point, down from last week when it averaged 3.05%. A year ago at this time, the 15-year FRM averaged 3.8%.Â

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83% this week, with an average 0.6 point, up from last week when it averaged 2.81%. A year ago, the five-year ARM averaged 3.48%.

The one-year Treasury-indexed ARM averaged 2.78% this week with an average 0.5 point, up from last week when it averaged 2.73%. At this time last year, the one-year ARM averaged 3.15%.

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