Home loan Rates Drop After Last Week's Surge

Daily Real Estate News | June 19, 2015

Average fixed-rate house loans reversed course this week, falling after having soared to new highs for 2015 Friday.

Freddie Mac reports the next national averages with mortgage rates to the week ending June 18:

•30-year fixed-rate house loans: averaged 4 percent, with the average 0. 7 point, dropping via last week's 4. 04 percent average. Last year 30-year rates averaged 4. 17 percent.

•15-year fixed-rate mortgages: averaged 3. 1 percent, with an average 0. 5 point, dropping from last week's 3. 25 % average. Last year, 15-year rates averaged 3. 30 percent.

•5-year crossbreed adjustable-rate mortgages: averaged 3 percent, with an average 0. point, dropping from last week's 3. 01 percent average. Last year, 5-year ARMs averaged 3 percent.

•1-year ARMs: averaged 2. 53 percent, with an average 0. point, showing no change from last week. A year ago, 1-year averaged 2. 41 percent.