Mortgage rates tick down slightly to 4%

Average fixed mortgage rates moved lower from the previous week’s new highs for 2015 while housing data was generally positive, according to the latest from Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 4.00% with an average 0.7 point for the week ending June 18, 2015, down from last week when it averaged 4.04%. A year ago at this time, the 30-year FRM averaged 4.17%. The 15-year FRM this week averaged 3.23% with an average 0.5 point, down from last week when it averaged 3.25%.

A year ago at this time, the 15-year FRM averaged 3.30%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.00% this week with an average 0.4 point, down from last week when it averaged 3.01%. A year ago, the 5-year ARM averaged 3.00%.

(Source: Housingwire)