Freddie Mac’s latest Primary Mortgage Market Survey showed that rates dropped to the lowest levels in 2017 against a sharp drop in Treasury yields. Rates are still higher than they were during the same week in 2016.
Rates for the week of May 25, 2017 were:
- 30-Year Fixed-Rate Mortgage (FRM): Averaged 3.95%, down from last week when it averaged 4.02%. A year ago at this time, the 30-year FRM averaged 3.64%.
- 15-Year FRM: Averaged 3.19%, down from last week when it averaged 3.27%. A year ago at this time, the 15-year FRM averaged 2.89%.
- 5-year Adjustable-Rate Mortgage (ARM): Averaged 3.07%, down from last week when it averaged 3.13%. A year ago at this time, the 5-year ARM averaged 2.87%.