MCLEAN, Va.--The 30-year fixed-rate mortgage moved lower this past week, averaging 6.36%, Freddie Mac reported.
“Mortgage rates ticked down this week, averaging 6.36%,” said Sam Khater, Freddie Mac’s chief economist. “While purchase demand is softening, it remains above this time last year. Recent data also shows existing-home sales modestly edging up.”
The 30-year FRM averaged 6.36% as of May 14, slightly down from last week when it averaged 6.37%. A year ago at this time, the 30-year FRM averaged 6.81%. The 15-year FRM averaged 5.71%, slightly down from last week when it averaged 5.72%. A year ago at this time, the 15-year FRM averaged 5.92%, Freddie Mac said.