Arlington, VA, United States (AHN) – Mortgage rates fell to new lows again for the week ended May 10, with the 30-year averaging 3.83 percent.
Freddie Mac said in a statement Thursday, “Following April’s weaker than expected employment report and the French and Greek election results raising concerns over the stability of the eurozone, long-term Treasury bond yields declined, allowing fixed mortgage rates to ease to new all-time lows this week.”
The rate for the 30-year averaged 3.84 percent in the prior week and 4.63 percent in the same period a year ago.
Rates on the 15-year fixed mortgage averaged 3.05 percent in the latest week, down from 3.07 percent last week and 3.82 percent a year ago.
According to Freddie Mac, average interest rates on five-year Treasury indexed hybrid adjustable mortgages averaged 2.81 percent, down from 2.85 percent last week and 3.41 percent from a year ago.
Rates for 30-year conforming mortgages also fell to a record low in the Mortgage Bankers Association weekly survey released Wednesday.
The MBA also reported that mortgage applications increased 1.7 percent in the current period, a hopeful sign for the ailing housing market.
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