Markets & Economy

Market update June 4, 2015: mortgage rates, credit availability and more

The latest daily real estate market news collected on a single page

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Freddie' Mac's Primary Mortgage Market Survey showed: 30-year fixed-rate mortgages (FRMs) were unchanged from last week, averaging 3.87 percent with an average 0.6 point. A year ago, the 30-year FRM average was 4.14 percent 15-year FRMs averaged 3.08 percent with an average 0.5 point, down from last week's 3.11 percent. One year ago, the 15-year FRM average was 3.23 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) average was 2.96 percent this week with an average 0.5 point, up from 2.9 percent last week. One year ago, the five-year ARM average was 2.93 percent. The one-year Treasury-indexed ARM average was 2.59 percent this week with an average 0.2 point, up from 2.5 percent last week. Last year, the one-year ARM average was 2.4 percent. "Mortgage rates were little changed for the week following mixed economic data before bond yields began moving higher Wednesday afternoon," said Freddie Mac's deputy chief economist, Len Kiefer, in a state...