For 1st Time Since April, Mortgage Rates Dip Below 5%
For 1st Time Since April, Mortgage Rates Dip Below 5%
Abstract
Freddie Mac says mortgage rates slid to 4.99% this week, the first time since April they've been below 5%. Freddie Mac on Thursday released its weekly Primary Mortgage Market Survey report. The last time mortgage rates were in the fours was the week of April 7, when they stood at 4.72%. The survey is focused on conventional, conforming, fully amortizing home purchase loans for borrowers. A year ago at this time, the 15-year FRM averaged 2.40%. The 5-year ARM averaged 4.50% and 4.20%. The 15- year FRM averaged 3.5% and 2.25% and 3.9% of the 5- year ARM averaged 1.
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