Freddie Mac today released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage averaged 3.26%.
“Mortgage rates stayed at or near record lows for the fifth straight week and homeowners are taking advantage with refinance activity remaining high,” said Sam Khater, Freddie Mac’s chief economist. “Although purchase demand declined 35% year-over-year in mid-April, demand has improved modestly over the last three weeks.”
News Facts
- 30-year fixed-rate mortgage averaged 3.26% with an average 0.7 point for the week ending May 7, 2020, up from last week when it averaged 3.23%. A year ago at this time, the 30-year FRM averaged 4.10%.
- 15-year fixed-rate mortgage averaged 2.73% with an average 0.7 point, down from last week when it averaged 2.77%. A year ago at this time, the 15-year FRM averaged 3.57%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.17% with an average 0.3 point, up from last week when it averaged 3.14%. A year ago at this time, the 5-year ARM averaged 3.63%.
