Friday Rate Update

Mortgage Rates Reach 2015 Low

The rate for a 30-year fixed-rate mortgage averaged 3.69 percent this week, down from last week’s average of 3.78 percent, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 4.4 percent.

This week’s 15-year FRM rate averaged 2.97 percent, down from last week’s 3.06 percent rate. A year ago, the 15-year FRM rate averaged 3.42 percent.