May 29th, 2014 11:55 AM by Jackie A. Graves
30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.6 point for the week
ending May 29, 2014, down from last week when it averaged 4.14 percent. A year
ago at this time, the 30-year FRM averaged 3.81 percent.
15-year FRM this week averaged 3.21
percent with an average 0.5 point, down from last week when it averaged 3.25
percent. A year ago at this time, the 15-year FRM averaged 2.98 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week with an
average 0.3 point, unchanged from last week. A year ago, the 5-year ARM
averaged 2.66 percent.
1-year Treasury-indexed ARM averaged 2.41 percent this week with an average 0.4 point, down
from last week when it averaged 2.43 percent. At this time last year, the
1-year ARM averaged 2.54 percent.
Average commitment rates
should be reported along with average fees and points to reflect the total
upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are
not included in the survey.
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