Hello neighbors,

In Freddie Mac's recent Primary Mortgage Market Survey released yesterday, 30-year fixed mortgage rates showed an average of 4.79 percent with an average 0.8 point for the week ending June 3rd. This number showed a slight increase in comparison to last week's average of 4.78. This time last year, 30-year mortgages averaged 5.29 percent.

As for the 15 year fixed rate mortgages, there was a reported average of 4.20 percent with an average 0.7 point which was a slight decrease from last week's average of 4.21 percent. Last year's average for 15-year FRM's at this time was 4.79 percent.

In addition, the 5-year treasury-indexed hybrid adjustable-rate mortgage (ARM) showed an average of 3.94 percent with an average 0.7 point. This average also showed a decrease in comparison to last week's average of 3.97 percent. Last year's average was 4.85 percent.

1-year Treasury indexed ARM's averaged came in at 3.95 percent with an average point of 0.7 which did not change from last week's average. This time last year, the average for 1-year ARM'swas 4.81 percent.