The 30-year fixed-rate mortgage (FRM) averaged 3.94 percent for the week ending June 1, down from last week when it averaged 3.95 percent. Still, this level is higher than the same time in 2016, when the 30-year FRM averaged 3.66 percent.
However, the other rate news was not negative. The 15-year FRM this week averaged 3.19 percent, unchanged from last week. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.11 percent this week, up from last week when it averaged 3.07 percent.