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Mortgage rates slump to 2-month lows amid market turmoil

Andrea Riquier
Mortgage rates slump to 2-month lows amid market turmoil

Rates for home loans slid to two-month lows, in line with the broader bond market, even as all eyes are trained on the housing market for signs of how the crucial spring selling season will shape up. The 30-year, fixed-rate mortgage averaged 4.07% in the May 16 week, Freddie Mac said Thursday, down three basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.66%, up three basis points.