Freddie Mac
Mortgage rates are (again) at their lowest levels in history.
Mortgage rates may be dropping, but mortgage costs are not. According to Freddie Mac, the average required discount points on a conforming mortgage rate are higher by 0.1 percent since early-May.
Each week, government-led Freddie Mac publishes a weekly mortgage rate survey based on data from 125 banks across the country. According to this week's results, the relative rate of a 5-year ARM is extremely low versus its 30-year fixed-rate cousin.