Mortgage Rates Continue to Remain Low
July 15, 2016 / Source: Freddie Mac
Freddie Mac released the results of its Primary Mortgage Market Survey® showing average fixed mortgage rates holding steady with the 30-year fixed-rate mortgage remaining near its all-time record low of 3.31 percent in November of 2012.
- 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending July 14, 2016, up from last week when it averaged 3.41 percent. A year ago at this time, the 30-year FRM averaged 4.09 percent.
- 15-year FRM this week averaged 2.72 percent with an average 0.5 point, down from last week when it averaged 2.74 percent. A year ago at this time, the 15-year FRM averaged 3.25 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.76 percent this week with an average 0.4 point, up from last week when it averaged 2.68 percent. A year ago, the 5-year ARM averaged 2.96.