Freddie Mac's results of its Primary Mortgage Market Survey® shows that "while the industrial and trade related economic data continues to dominate the news, the drop in mortgage rates over the last two months is already being felt in the housing market. Through late June, home purchase applications improved by five percentage points compared to the previous month. In the near-term, we expect the housing market to continue to improve from both a sales and price perspective."
• 30-year fixed-rate mortgage (FRM) averaged 3.73 percent with an average 0.5 points for the week ending June 27, 2019, down from last month when it averaged 4.06 percent. A year ago, at this time, the 30-year FRM averaged 4.55 percent.
• 15-year FRM this week averaged 3.16 percent with an average 0.5 points, down from last month when it also averaged 3.51 percent. A year ago, at this time, the 15-year FRM averaged 4.04 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.39 percent this week with an average 0.4 points, down from last month when it averaged 3.68 percent. A year ago, at this time, the 5-year ARM averaged 3.87 percent.