Here’s a quick interest rate review:
In Freddie Mac Primary Mortgage Mkt Survey (for the week ending June 9) in which the 30-yr fixed-rate mortgage (FRM) avg. 6.62%, down from last week’s avg. of 6.67%. Last year at this time, the 30-yr FRM avg. 5.56%.
The avg. for the 15-yr FRM is 6.23%, down from last week’s avg. of 6.26%. A year ago, the 15-yr FRM avg. 5.14%.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) avg. 6.20%, down from last week when it avg. 6.26%. A year ago, the five-year ARM avg. 5.01%.
One-year Treasury-indexed ARMs avg. 5.63%, down from last week when it avg. 5.68%. At this time last year, the one-yr ARM avg. 4.21%.
This information is courtesy of Mountain Equity Mortgage in Summit County, Colorado.