Mortgage Rates Bottom to New Low

Mortgage rates this week bottomed to a new low for the year, with the 30-year, fixed rate averaging 3.94 percent, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate, at the same time, averaged 3.19 percent, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.11 percent.
“In a short week following Memorial Day, the 10-year Treasury yield fell four basis points,” says Sean Beckett, chief economist