30-Year Rates Averaged 2.93% This Week
Mortgage rates have remained at or below 3% for nine consecutive weeks. “Many home buyers can benefit from these low rates while home prices are reaching record highs,” says Nadia Evangelou, senior economist and director of forecasting at the National Association of Realtors®.
Freddie Mac reports the following national averages with mortgage rates for the week ending June 17:
- 30-year fixed-rate mortgages: averaged 2.93%, with an average 0.7 point, falling from last week’s 2.96% average. Last year at this time, 30-year rates averaged 3.13%.
- 15-year fixed-rate mortgages: averaged 2.24%, with an average 0.6 point, rising slightly from a 2.23% average last week. A year ago, 15-year rates averaged 2.58%.
- 5-year hybrid adjustable-rate mortgages: averaged 2.52%, with an average 0.3 point, dropping from last week’s 2.55% average. A year ago, 5-year ARMs averaged 3.09%.
National Association of Realtors, Realtor Magazine.
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