Mortgage Interest Rates Drop Below 4 Percent

Average U.S. mortgage interest rates declined to less than 4 percent for the week ending May 25, 2017, and to the lowest point this year, according to Freddie Mac's weekly Primary Mortgage Market Survey. 

The 30-year, fixed rated mortgage loan averaged 3.95 percent, with an average 0.5 point, down from 4.02 percent the previous week. The 30-year note averaged 3.64 percent during the same time last year. 

The 15-year, fixed rated mortgage averaged 3.19 percent, with an average 0.5 point, a decrease of 8 basis points from last week's 3.27 percent average rate. Last year during the same week the 15-year loan averaged 2.89 percent. 

The five-year, adjustable rate mortgage (ARM) averaged 3.07 percent, with an average 0.4 point. The five-year ARM averaged 3.13 percent the previous week and 2.87 percent the previous year.