Average Mortgage Rates Hit Lowest Level of 2017

May 25, 2017

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."

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Phil Hall

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May 25, 2017

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