The 30-year fixed rate mortgage averaged 3 per cent according to Freddie Mac's weekly Primary Mortgage Market Survey released today.
Freddie Mac Chief Economist Sam Khater said after a run up over the first few months of the year, rates have paused and have hovered around three per cent since March.
•30-year fixed-rate mortgage averaged 3.00 percent with an average 0.6 point for the week ending May 20, 2021, up from last week when it averaged 2.94 percent. A year ago at this time, the 30-year FRM averaged 3.24 percent.
•15-year fixed-rate mortgage averaged 2.29 percent with an average 0.7 point, up from last week when it averaged 2.26 percent. A year ago at this time, the 15-year FRM averaged 2.70 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.59 percent with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.17 percent.