Industry NewsMortgage

30-year fixed-rate still below 5%

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For borrowers with good credit and cash for a downpayment, mortgage rates remained at or near record lows this week, according to Freddie Mac's latest weekly rate survey.The survey found rates on 30-year fixed-rate mortgages averaged 4.75 percent for the week ending June 17, with an average of 0.7 point. That's up slightly from last week, when 30-year fixed-rate loans averaged 4.72 percent, but down from 5.38 percent a year ago.The all-time record low for 30-year fixed-rate loans in records dating back to 1971 was set during the week of Dec. 3, when the rates averaged 4.71 percent.Rates on 15-year fixed-rate mortgages averaged 4.2 percent with an average 0.7 point, up from 4.17 percent last week but down from 4.89 percent a year ago.For 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 3.89 percent this week, with an average 0.7 point. That's down from 3.92 percent last week and 4.97 percent a year ago, and was the lowest rate for 5-year ARMs since Fre...