Mortgage Rates Sit In Limbo From Last Week's Averages

By Liz Clinger Updated on 6/28/2012

According to the Freddie Mac survey for the week ending today, mortgage interest rates have barely shifted from last week’s drop to record or near record lows.

30-year fixed rate mortgages reached and average of 3.66% this week, matching the same rate average as last week’s record breaking low, and a huge decline from this time last year’s average at 4.51%.

15-year fixed rate mortgages actually slightly decreased from the previous week, reaching an interest rate average of 2.94% under last week’s average of 2.95%, and also down from the average rate this time last year, which was 3.69%.

5-year Treasury-indexed, hybrid ARM average interest rate increased from last week’s 2.77% to reach 2.79%, but still down from this time last year’s average of 3.22%.

1-year Treasury-indexed adjustable rate mortgages kept the same average interest rate from the previous week at 2.74% and is modestly down from last year’s average of 2.97%.

A survey of large banks by the home loan analytics firm Bankrate reported 30-year fixed rate mortgage average interest rates decreased from last week’s 3.92% to reach 3.89%. 15-year fixed rate mortgages also showed a decline from the previous week’s average of 3.20% to reach 3.16%. 5/1 adjustable rate mortgages showed a slight decrease from last week’s 3.03% to reach 3.02%.