Mortgage rates declined for the week ending Aug. 30, according to new data released by Freddie Mac.
The 30-year fixed-rate mortgage (FRM) averaged 3.59% with an average 0.6 point for the week, down from last week when it averaged 3.66%. Last year at this time, the 30-year FRM averaged 4.22%.
The 15-year FRM averaged 2.86% with an average 0.6 point, down from last week when it averaged 2.89%. A year ago at this time, the 15-year FRM averaged 3.39%.Â
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78% this week with an average 0.6 point, down from last week when it averaged 2.8%. A year ago, the five-year ARM averaged 2.96%.
The one-year Treasury-indexed ARM averaged 2.63% this week with an average 0.4 point, down from last week when it averaged 2.66%. At this time last year, the one-year ARM averaged 2.89%.
