Freddie reports the following national averages in mortgage rates for the week ending May 14:
- 30-year fixed-rate mortgages: averaged 3.85 percent, with an average 0.6 point, rising from last week’s 3.80 percent average. Last year at this time, 30-year rates averaged 4.20 percent.
- 15-year fixed-rate mortgages: averaged 3.07 percent, with an average 0.6 point, rising from last week’s 3.02 percent average. A year ago, 15-year rates averaged 3.29 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.89 percent, with an average 0.5 point, dropping from last week’s 2.90 percent average. A year ago, 5-year ARMs averaged 3.01 percent.
- 1-year ARMs: averaged 2.48 percent, with an average 0.4 point, increasing from last week’s 2.46 percent average. A year ago, 1-year ARMs averaged 2.43 percent.
Source: Freddie Mac
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