The 30-year fixed-rate mortgage dropped below 4 percent for the first time in history and the 15-year fixed-rate also continues to fall . Interest rates for adjustable-rate mortgage (ARM) have seen the 5-year ARM lower but the 1-year ARM did see a rise this week. Below are the rate averages for this week according to Freddie Mac. The data is from the Freddie Mac website and is believed to be accurate, but not guaranteed. The chart below shows the interest rate weekly trends since the beginning of the year.
The 30-year fixed-rate mortgage averaged 3.94 percent with an average 0.8 point for this week, down from last week when it averaged 4.01 percent. Last year at this time, the 30-year rate averaged 4.27 percent.
15-year fixed-rate mortgage averaged 3.26 percent with an average 0.8 point, down from last week when it averaged 3.28 percent. A year ago at this time, it averaged 3.72 percent.
5-year Treasury-indexed hybrid ARM averaged 2.96 percent this week, with an average 0.6 point, down from last week when it averaged 3.02 percent. A year ago, the 5-year ARM averaged 3.47 percent.
1-year Treasury-indexed ARM averaged 2.95 percent this week with an average 0.5 point, up from last week when it averaged 2.83 percent. At this time last year, the 1-year ARM averaged 3.40 percent.