HOMZ - Mortgage rates continue to fall on headwinds facing economy

30-year fixed-rate mortgage averaged 5.10% with an average 0.9 point for the week ending May 26, down from last week when it averaged 5.25% and higher than 2.95% a year ago, according to the Freddie Mac Primary Mortgage Survey. 15-year fixed-rate mortgage averaged 4.31% with an average 0.8 point, down from last week when it averaged 4.43% and higher from 2.27% a year ago. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 4.20% with an average 0.3 point, up from last week when it averaged 4.08% and higher than 2.59% a year ago. "Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing," said Sam Khater, Freddie Mac's chief economist. "Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is spreading to other segments of the economy, such as consumer spending on durable goods," Khater added. For June, experts from the

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Mortgage rates continue to fall on headwinds facing economy