Rates remained near record lows last week.

For the week ending June 4, Freddie Mac announced that 30-year fixed rates moved up to 3.18% from 3.15% the week before. The average for 15-year loans remained at 2.62% and the average for five-year ARMs fell to 3.10%. A year ago, 30-year fixed rates averaged 3.82%, more than 0.50% higher than today. "As the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market. Low interest rates are a key factor in this recovery. While homebuyer demand is up and has been broad-based across most geographies, supply has been slower to improve. In fact, the gap between supply and demand has widened even further than the large gap that existed prior to the pandemic," 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 June 5, 2020