MCLEAN, VA -- Freddie Mac last week released the results of its Primary Mortgage Market Survey, showing fixed mortgage rates climbing higher amid a solid employment report for May. Since beginning their climb last month, the 30-year fixed-rate mortgage has increased over half a percentage point. Regardless, mortgage rates are coming off their all-time record lows, which is helping to keep homebuyer affordability high.
30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending June 13, 2013, up from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 3.71 percent.
15-year FRM this week averaged 3.10 percent with an average 0.7 point, up from last week when it averaged 3.03 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 2.79 percent this week with an average 0.6 point, up from last week when it averaged 2.74 percent. A year ago, the 5-year ARM averaged 2.80 percent.
1-year Treasury-indexed ARM averaged 2.58 percent this week with an average 0.4 point, the same as last week. At this time last year, the 1-year ARM averaged 2.78 percent.