Rates retreat after wild ride, offering buyers a break

Rates for home loans ticked down after throttling to their highest in more than seven years as investors piled into safe-haven assets. The 30-year fixed-rate mortgage averaged 4.56% during the May 31 week, down 10 basis points, Freddie Mac said Thursday. The 15-year fixed-rate mortgage averaged 4.06%, down from 4.15%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.80%, down seven basis points.

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Source: Market Watch