Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing. Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is spreading to other segments of the economy, such as consumer spending on durable goods."

• 30-year fixed-rate mortgage (FRM) averaged 5.1 percent with an average 0.9 points for the week ending May 26, 2022, the same as last month when it averaged 5.1 percent. A year ago, at this time, the 30-year FRM averaged 2.95 percent.

• 15-year FRM this week averaged 4.31 percent with an average 0.8 points, down from last month when it averaged 4.4 percent. A year ago, at this time, the 15-year FRM averaged 2.27 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.2 percent this week with an average 0.3 points, up from last month when it averaged 3.78 percent. A year ago, at this time, the 5-year ARM averaged 2.59 percent.