Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, May 14. The survey showed mortgage rates decreasing slightly compared to the previous week.

This week, the 30-year fixed rate mortgage averaged 6.36%, down from last week’s average of 6.37%. Last year at this time, the 30-year fixed rate mortgage averaged 6.81%.

The 15-year fixed rate mortgage averaged 5.71% this week, down from last week’s 5.72%. During the same week last year, the 15-year fixed rate mortgage averaged 5.92%.

“Mortgage rates ticked down this week, averaging 6.36%,” said chief economist at Freddie Mac, Sam Khater. “While purchase demand is softening, it remains above this time last year. Recent data also shows existing-home sales modestly edging up.”

Based on published national averages, the savings rate was 0.38% as of 4/20. The one-year CD averaged 1.53%.

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