The 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.7 point for the week ending June 28 2012 the same as last week. Last year at this time the 30-year FRM averaged 4.51 percent.
Results showed that the 15-year FRM this week averaged 2.94 percent with an average 0.7 point down from last week when it averaged 2.95 percent. A year ago at this time the 15-year FRM averaged 3.69 percent.
Additionally the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.79 percent this week with an average 0.6 point up from last week when it averaged 2.77. A year ago the 5-year ARM averaged 3.22 percent.
The 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.4 point the same as last week. At this time last year the 1-year ARM averaged 2.97 percent.
"Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market" says Frank Nothaft vice president and chief economist Freddie Mac. "Both the S&P/Case Shiller 20-city composite and the Federal Housing Finance Agency's house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile pending existing home sales rebounded in May by 5.9 percent to match a two year high and new home sales jumped 7.6 percent to its fastest pace since April 2010."
For more information visit www.FreddieMac.com.