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Average U.S. mortgage interest rates remained around the three-year low for the week ending June 23, 2016 and nearly 0.5 percent lower than the same period last year, Freddie Mac reported June 23, 2016.
The 30-year, fixed-rate mortgage loan average 3.56 percent, with an average 0.6 point, compared to 3.54 percent last week. A year ago the 30-year note average 4.02 percent.
"Mortgage rates have been slow to adjust to the 10-year Treasury yield, which has increased 12 basis points since last week," Freddie Mac chief economist Sean Becketti said. "This week's survey shows the 30-year fixed rate inching up to 3.56 percent, only 2 basis points above last week's average. The low rates continue to be good news for the housing market, as existing home sales rose 1.8 percent to a 5.53 million seasonally adjusted annual rate in the month of May – the highest level since February 2007."
The 15-year, fixed-rate mortgage averaged 2.83 percent (average 0.5 point) for the week ending June 23, 2016 compared to 2.81 percent last week and 3.21 percent last year. The 5-year, adjustable-rate mortgage loan averaged 2.74 percent.
