Freddie Mac reports that the 30-year fixed-rate mortgage (FRM) and the five-year adjustable-rate mortgage (ARM) have registered new record lows.
The 30-year FRM averaged 3.66% with an average 0.7 point for the week ending June 21, down from last week when it averaged 3.71%. Last year at this time, the 30-year FRM averaged 4.5%.Â
The 15-year FRM averaged 2.95% with an average 0.6 point, down from last week when it averaged 2.98%. A year ago at this time, the 15-year FRM averaged 3.69%.
The five-year Treasury-indexed hybrid ARM averaged 2.77% this week, with an average 0.6 point, down from last week when it averaged 2.80%. A year ago, it averaged 3.25%.
The one-year Treasury-indexed ARM averaged 2.74% this week with an average 0.5 point, down from last week when it averaged 2.78%. At this time last year, it averaged 2.99%.