Mortgage rates have been falling over the past few weeks. Here is a brief snapshot of how rates have been since the beginning of this year (data source: Freddie Mac):

It’s rather interesting that the 5/1 ARM was hovering between the 30 year and 15 year rates earlier this year and has recently returned to a similar position. Here are the highs and lows for the different loan terms:

1. 30 Year Rate High: Week ending February 28th at 6.240%
2. 30 Year Rate Low: Week ending January 24th at 5.480%
3. 15 Year Rate High: Week ending February 28th at 5.72%
4. 15 Year Rate Low: Week ending January 24th at 5.130%
5. 5/1 ARM Rate High: Week ending January 3rd at 5.780%
6. 5/1 ARM Rate Low: Week ending January 24th at 4.950%

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Tags: 15 year, 30 year, 5/1 ARM, mortgage rates
Categories: Interest Rate, Mortgages