Freddie Mac announced the most recent weekly mortgage rates in its latest Primary Mortgage Market Survey (PMMS) Thursday, showing rates largely unchanged from the previous week.
In terms of 30-year fixed-rate mortgages (FRMs), the overall average rate in the U.S. rang in at 3.38%, a two-basis-point drop from the previous week. In addition, the rate of 15-year FRMs stayed at last week's rate of 2.66%. Rates for five-year adjustable-rate mortgages (ARMs) also stayed flat compared to last week, at 2.67%. The average one-year ARM dropped from 2.60%, to 2.57%.
Freddie Mac's latest survey presents slightly higher mortgage rates than the country's recent record lows. "Mortgage rates were flat to down a little this week amid reports that inflation remains contained," according to Frank Nothaft, chief economist at Freddie Mac.