The average 30-year fixed mortgage rate for the week ending June 5 fell to 7.05% from 7.07% for the week ended May 29, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate declined to 6.70% from 6.72%, while the average rate for one-year Treasury-indexed adjustable-rate mortgages slipped to 5.68% from 5.70%. Fees and points averaged 1.0 for each category. A year ago, the average 30-year and 15-year fixed rates were 7.85% and 7.40%, respectively, and the average one-year ARM rate was 5.78%. "With the economy strong and inflation low, mortgage interest rates remain stable, as we had predicted earlier in the year," said Robert Van Order, Freddie Mac's chief economist.
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