30-year-mortgage Rate Remains Highest Since Late 2014

The average rate for a 30-year fixed-rate mortgage remained at 3.87% in the week that ended June 4, matching the prior week's reading, which was the highest since the end of 2014, according to a Thursday report from federally controlled mortgage-buyer Freddie Mac. A year ago, the 30-year rate was at 4.14%. A record low of 3.31% for the 30-year mortgage was hit in November 2012. The average rate for the 15-year fixed-rate mortgage decreased to 3.08% in the latest week from 3.11% in the prior week. Meanwhile, the rate for a 5-year Treasury-indexed hybrid adjustable-rate mortgage rose to 2.96% from 2.90%. The rate for a 1-year Treasury-indexed ARM jumped up to 2.59% from 2.50%.