Average mortgage rates fell to their lowest level of the year, according to Freddie Mac
’s Primary Mortgage Market Survey for the week ending May 25.
The 30-year fixed-rate mortgage (FRM) averaged 3.95 percent, down from last week when it averaged 4.02 percent. The 15-year FRM this week averaged 3.19 percent, down from last week when it averaged 3.27 percent. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.07 percent this week, down from last week when it averaged 3.13 percent. A year ago
"As we predicted, the 30-year mortgage rate fell seven basis points this week in a delayed reaction to last week's sharp drop in Treasury yields,” said Sean Becketti, Freddie Mac’s chief economist. “The survey rate stands at 3.95 percent today, a new low for the year."