In what is starting to become a monotonously predictable trend, Freddie Mac has announced that average fixed mortgage rates fell to new all-time record lows for the sixth consecutive week.
According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 3.67% with an average 0.7 point for the week ending June 7, down from last week when it averaged 3.75%. Last year at this time, the 30-year FRM averaged 4.49%.Â
The 15-year FRM averaged 2.94% with an average 0.7 point, down from last week when it averaged 2.97%. A year ago at this time, the 15-year FRM averaged 3.68%.Â
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84% with an average 0.7 point, the same as last week. A year ago, it averaged 3.28%.
The one-year Treasury-indexed ARM averaged 2.79% with an average 0.4 point, up from last week when it averaged 2.75%. At this time last year, it averaged 2.95%.Â Â