Mortgage rates posted another drop this week, offering more relief to home buyers.
Freddie Mac reports the following national averages with mortgage rates for the week ending July 27:
- 30-year fixed-rate mortgages: averaged 3.92 percent, with an average 0.5 point, falling from last week’s 3.96 percent average. Last year at this time, 30-year rates averaged 3.48 percent.
- 15-year fixed-rate mortgages: averaged 3.20 percent, with an average 0.5 point, dropping from last week’s 3.23 percent average. A year ago, 15-year rates averaged 2.78 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.18 percent, with an average 0.5 point, down from last week’s 3.21 percent average. A year ago, 5-year ARMs averaged 2.78 percent.