--- title: U.S. Mortgage Interest Rates Hit New 2016 Low description: Average U.S. mortgage interest rates declined for the second straight week and interest rates hit a new low for 2016 for the week ending June 16, 2016. image: http://info.buyersbrokersonly.com/hs-fs/hub/213639/file-29240157-jpg/images/couple_boxes.jpg --- (978) 835-5906             [![Search Icon](https://info.buyersbrokersonly.com/hs-fs/hubfs/Search%20Icon.png?width=30&height=30&name=Search%20Icon.png)](https://info.buyersbrokersonly.com/search-results-page) [![Buyers Brokers Only, LLC – Real Estate Buyer Agents](https://info.buyersbrokersonly.com/hs-fs/hubfs/2023%20BBO%20Logo%20800x170.png?width=1600&height=340&name=2023%20BBO%20Logo%20800x170.png "Buyers Brokers Only, LLC – Real Estate Buyer Agents")](https://www.buyersbrokersonly.com/) # Massachusetts Home Buyer Guide ![smaller-dotted-line.png](https://cdn2.hubspot.net/hub/298849/file-263826832-jpg/true_gray_line_websites.jpg?width=1175&name=true_gray_line_websites.jpg "smaller-dotted-line.png") ## [U.S. Mortgage Interest Rates Hit New 2016 Low](https://info.buyersbrokersonly.com/blog/u.s.-mortgage-interest-rates-hit-new-2016-low) Jun 20, 2016 7:20:43 AM Average U.S. mortgage interest rates declined for the second consecutive week and interest rates hit a new low for 2016, Freddie Mac reported June 16, 2016 in its weekly Primary Mortgage Market Survey.  ![U.S. Average Mortgage Interest Rates](http://info.buyersbrokersonly.com/hs-fs/hub/213639/file-29240157-jpg/images/couple_boxes.jpg?width=424&name=couple_boxes.jpg "U.S. Average Mortgage Interest Rates")The 30-year, fixed-rate mortgage declined from 3.60 percent to an average of 3.54 percent, with an average 0.5 point, for the week ending June 16, 2016. A year ago the [30-year, fixed-rate mortgage](https://info.buyersbrokersonly.com/loan) averaged 4.00 percent. "The 10-year Treasury yield continued its free fall this week as global risks and expectations for the Fed's June meeting drove investors to the safety of government bonds," Sean Becketti, Freddie Mac chief economist, said. "The 30-year mortgage rate responded by falling 6 basis points for the second straight week to 3.54 percent -- yet another low for 2016. Wednesday's Fed decision to once again stand pat on rates, as well as growing anticipation of the U.K.'s upcoming European Union referendum will make it difficult for Treasury yields and -- more importantly -- mortgage rates to substantially rise in the upcoming weeks." The 15-year, fixed-rate mortgage also declined six basis points from the week before to 2.81 percent, with an average 0.5 point. The 15-year note averaged 3.23 percent a year ago.  The five-year, adjustable-rate mortgage averaged 2.74 percent, with an average 0.5 point, down from 2.82 percent the previous week and 3.00 percent the previous year.  It is important for homebuyers to factor in points, if any, and closing costs to [understand the total cost of borrowing](https://info.buyersbrokersonly.com/blog/what-is-a-closing-disclosure). Lenders are required under new regulations to provide home-buying consumers with an [estimate of mortgage costs](https://info.buyersbrokersonly.com/blog/the-loan-estimate-is-a-tool-for-homebuyers-to-compare-mortgages) once the lender receives certain information from the borrower. [![The Ultimate Homebuyer Checklist for Massachusetts. 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