Mortgage Rates Drop Slightly in MBA Survey for Week Ending -June 4th; Avg. Rate is at 4.81%; Refinance Activity Now at a Volume of 72.2% of Total Mortgage Weekly Activity

The Mortgage Bankers Association (MBA) announced their most current data (averages for contract interest rates): 

30 Year Fixed Interest Rate = 4.81%
15 Year Fixed Interest Rate = 4.26%
1 Year Adjustable Rate Mortgage = 6.94%

Source: Mortgage Bankers Association (MBA)

The level of refinance activity was reported to be at 72.2 % 
of the total activity for the weekly survey.  The level of
refinance activity for week ending May 28th was 73.8 %.

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