Rates moved lower last week, reversing the trend of the past couple of weeks.

For the week ending May 2, Freddie Mac announced that 30-year fixed rates fell to 4.14% from 4.20% the previous week. The average for 15-year loans decreased to 3.60% and the average for five-year loans moved down to 3.68%. A year ago, 30-year fixed rates averaged 4.55%, more than one-third of a percent higher than today. "Slightly weaker inflation and labor economic data caused rates on home loans to dip this week. Moving into summer, we expect rates to be about a quarter to half a percentage point lower than where they were last year, which is good news for the housing market. These lower rates combined with solid economic growth, low inflation and rebounding consumer confidence should provide a solid foundation for home sales to continue to improve over the next couple of months," said Sam Khater, Chief Economist, Freddie Mac.

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

Current Indices for Adjustable Rate Mortgages 
Updated May 3, 2019