For the week ending May 18, 30-year rates rose to 6.39% from 6.35% the week before.

Rates continued to remain in a narrow range within the past several weeks. For the week ending May 18, 30-year rates rose to 6.39% from 6.35% the week before. In addition, 15-year loans remained at 5.75%. A year ago, 30-year fixed rates averaged 5.25%, more than 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The 30-year fixed-rate mortgage averaged 6.39 percent this week, as economic crosscurrents have kept rates within a ten-basis point range over the last several weeks. After the substantial slowdown in growth last fall, home prices stabilized during the winter and began to modestly rise over the last few months. This indicates that while affordability remains a hurdle, homebuyers are getting used to current rates and continue to pursue homeownership.”

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 Rates
Updated May 19, 2023