Mortgage Rates Move Up Slightly in MBA Survey for Week Ending -May 28th; Avg. Rate is at 4.83%; Refinance Activity Now at a Volume of 73.8% 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 = 4.83%
15 Year Fixed Interest Rate = 4.24%
1 Year Adjustable Rate Mortgage = 6.96%

Source: Mortgage Bankers Association (MBA)

The level of refinance activity was reported to be at 73.8 % 
of the total activity for the weekly survey.  The level of
refinance activity for week ending May 21st was 72.2 %.

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