Mortgage Rates: Freddie Mac’s Survey Mortgage Rates Down This Week

Mortgage Rates: Earlier today Freddie Mac released it's Primary Mortgage Market Survey showing mortgage rates mostly falling again this past week. The average rate for 30-year conforming fixed rate mortgages was down to .482 percent with an average of 0.7 point. Rates were closer to 6 percent last year at the same time.

Average mortgage rates for 15-year conforming fixed rate mortgages were at 4.50 percent with an average of 0.7 point. Down from last week's average mortgage rate of 4.52 percent. Last year at this time 15-year mortgage rates averaged 5.55 percent.

Five-year adjustable rate mortgages averaged 4.79 percent this week, with an average 0.6 point, down from last week's average of 4.82 percent. This time last year average mortgage rates on five-year adjustable rate mortgages were 5.61 percent.

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

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The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #1835285

5.478%

15-Year Fixed

5.250%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$3,216 /mo

Next >

NMLS #401822

5.642%

15-Year Fixed

5.375%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$3,242 /mo

Next >

NMLS #1025894

5.667%

15-Year Fixed

5.490%

$4,612

Includes 0.978 points for $3,912

Lender Fees: $700

$3,267 /mo

Next >

NMLS #2059741

5.751%

15-Year Fixed

5.625%

$3,272

Includes 0.818 points for $3,272

Lender Fees: $0

$3,295 /mo

Next >

NMLS #6606

5.890%

15-Year Fixed

5.740%

$3,876

Includes 0.969 points for $3,876

Lender Fees: $0

$3,320 /mo

Next >

NMLS #1835285

6.368%

30-Year Fixed

6.250%

$5,000

Includes 0.750 points for $3,000

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #1835285

6.377%

5-Year ARM

6.250%

$5,368

Includes 0.842 points for $3,368

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #2059741

6.583%

30-Year Fixed

6.490%

$3,896

Includes 0.974 points for $3,896

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.713%

30-Year Fixed

6.625%

$3,656

Includes 0.739 points for $2,956

Lender Fees: $700

$2,562 /mo

Next >

NMLS #401822

6.770%

30-Year Fixed

6.625%

$5,995

Includes 1.000 points for $4,000

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #6606

6.834%

30-Year Fixed

6.740%

$3,888

Includes 0.972 points for $3,888

Lender Fees: $0

$2,592 /mo

Next >

NMLS #3030

6.909%

15-Year Fixed

6.750%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,540 /mo

Next >

NMLS #3030

7.602%

30-Year Fixed

7.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,797 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

One-year adjustable rate mortgages were the only average rates that increased this week from last. Average rates on one-year ARMs are 4.82 percent this week with an average 0.6 point, up from last week when it averaged 4.71 percent.

Freddie Mac vice president and chief economist Frank Nothaft had the following comments.

"Long-term fixed-rate mortgage rates have remained below 5.0 percent for the past 10 weeks as the U.S. Treasury and Federal Reserve (Fed) act to keep interest rates low through security purchases. The Treasury purchased $136 billion in mortgage-backed securities through April and the Fed bought $740 billion through mid-May. In addition, the Fed purchased $115 billion in Treasury bonds since March of this year."

"Housing construction continued to decline, as total starts fell to the lowest level since the Census Bureau began its monthly series in January 1959. While single-family construction appears to be near or at a bottom, multi-unit construction continued to recede. Reflecting the apparent stabilization in single-family construction levels, home builder confidence rose in May to the highest level since September 2008 and represented the first back-to-back up tick since February 2008."