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Long- and short-term mortgage rates nearly unchanged from last week

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Mortgage rates remained near historic lows this week, according to Freddie Mac’s Primary Mortgage Market Survey.

The 30-year-fixed-rate mortgage averaged 4.79 percent for the week ending June 3, up slightly from last week when it averaged 4.78 percent.

Last year at this time, the 30-year fixed mortgage averaged 5.29 percent.

The average 15-year fixed-mortgage hit its lowest point since Freddie Mac started tracking the 15-year rate in August of 1991. The 15-year fixed-mortgage rate this week averaged 4.2 percent, down slightly from last week when it averaged 4.21 percent. A year ago at this time, the 15-year fixed mortgage averaged 4.79 percent.

“The economy grew at a slower rate than originally reported in the first three months of the year, according to the Bureau of Economic Analysis, which suggests inflation will remain tame in the near term,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.


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