Markets & Economy

Mortgage rates reverse course, drop slightly

Rates on 30-year fixed-rate mortgages averaged 4.17 percent

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Fixed mortgage rates reversed course this week and fell slightly, according to Freddie Mac’s weekly Primary Mortgage Market Survey. The survey showed rates on 30-year fixed-rate mortgages averaged 4.17 percent with an average point of 0.6 for the week ending June 19, down from 4.2 percent last week but up from 3.93 percent a year ago. Rates on 15-year fixed-rate mortgages and five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans slipped, while rates on one-year Treasury-indexed ARMs increased....