Freddie Mac today released the results of its Primary Mortgage Market Survey for the week ending June 6, 2022, showing that the 30-year fixed-rate mortgage (FRM) averaged 5.09 percent.
“Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand,” said Sam Khater, Freddie Mac’s Chief Economist. “Heading into the summer, the potential homebuyer pool has shrunk, supply is on the rise and the housing market is normalizing. This is welcome news following unprecedented market tightness over the last couple years.”
- 30-year fixed-rate mortgage averaged 5.09 percent with an average 0.8 point as of June 2, 2022, down slightly from last week when it averaged 5.10 percent. A year ago at this time, the 30-year FRM averaged 2.99 percent.
- 15-year fixed-rate mortgage averaged 4.32 percent with an average 0.8 point, up slightly from last week when it averaged 4.31 percent. A year ago at this time, the 15-year FRM averaged 2.27 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.04 percent with an average 0.3 point, down from last week when it averaged 4.20 percent. A year ago at this time, the 5-year ARM averaged 2.64 percent.
For daily mortgage rate information, check with your mortgage lender. You can also find daily mortgage rate information on online sites such as Mortgage News Daily.