Mortgage Interest Rates Fall For Third Consecutive Week (albeit slightly)

On May 12th the 30-year fixed rate mortgage interest rate hit 5.3%, the highest rates since June 2009, according to Freddie Mac’s Primary Mortgage Market Survey®.  As the chart below illustrates, mortgage interest rate have declined the last three consecutive weeks falling to 5.09% at the end of last week, the lowest rate since April 14th when the average interest rate was 5.0%.

Mortgage Interest Rates – 30 and 15-Year  Conventional Loans and 5/1 ARM Loan

(click on chart for live, interactive chart)

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