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Home shoppers are getting another week to lock in some of the lowest mortgage rates of the year. “Following last week’s sharp decline, the 10-year Treasury yield rose 3 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.90 percent. Mortgage rates are continuing to hold at year-to-date lows amidst ongoing economic uncertainty.”
Freddie Mac reports the following national averages with mortgage rates for the week ending June 22:
- 30-year fixed-rate mortgages: averaged 3.90 percent, with an average 0.5 point, dropping from last week’s 3.91 percent average. Last year at this time, 30-year rates averaged 3.56 percent.
- 15-year fixed-rate mortgages: averaged 3.17 percent, with an average 0.5 point, dropping slightly from last week’s 3.18 percent average. A year ago, 15-year rates averaged 2.83 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.14 percent, with an average 0.5 point, falling from last week’s 3.15 percent average. A year ago, 15-year ARMs averaged 2.74 percent.
Source: Freddie Mac
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