Weekly Mortgage Interest Rate Report May 28, 2015

Weekly Mortgage Interest Rate Report May 28, 2015

Week ending on 05/28/15 Interest Rate Points & Fees Margin  30 Year Fixed Rate 3.87% 0.6 N/A  15 Year Fixed Rate 3.11% 0.5 N/A  5/1-Year Adjustable Rate 2.90% 0.5 2.74  1 Year Adjustable Rate 2.50% 0.3 2.74

Data is provided by Freddie Mac's Primary Mortgage Market Survey® (PMMS)

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.

“Mortgage rates rose to the highest level in 2015 following positive housing market data. New home sales surged 6.8 percent to an annual pace of 517,000 units in April. Although existing home sales slipped 3.3 percent to a seasonally-adjusted pace of 5.04 million units, sales are up 6.1 percent on a year-over-year basis. The S&P/Case-Shiller 20-city home price index also posted a solid gain of 5 percent over the 12-months ending in March 2015.”

– Len Kiefer, deputy chief economist, Freddie Mac