Mortgage rates didn’t drop this week, but stayed below 5% for the fifth consecutive week. The Freddie Mac (FRE) weekly survey put the average rate for a 30-year fixed-rate mortgage (FRM) at 4.75% with a 0.7 origination point for the week ending June 17, up from last week’s average rate of 4.72%. A year ago at this time, the 30-year FRM average 5.38%. The Bankrate weekly survey of large banks and thrifts put the average rate for a 30-year FRM at 4.88% with a 0.48 origination point, level from last week’s average. One year ago, Bankrate put the average rate for a 30-year FRM at 5.76%. The average rate for a 30-year FRM in Bankrate’s 25-year-old rate survey has only been below 5% five times, all during the past five weeks. “Mortgage rates were little changed this week amid preliminary signs that the expiration of the homebuyer tax credit in April may have led to a slowdown in new construction,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Nonetheless, household balance sheets have been improving over the past four quarters. In aggregate, households gained $6.3trn in net worth in the first quarter from a year ago, according to the Federal Reserve,” Nothaft added. “In addition, homeowners have regained $1.1trn in home equity over the same time period.” Freddie said the 15-year FRM averaged 4.2% with an average 0.7 point, up from last week when it averaged 4.17%, but down from last year, when it averaged 4.89%. Bankrate put the average rate for a 15-year FRM at 4.32% with a 0.48 origination point, down from last week’s average of 4.33%. A year ago, the 15-year FRM averaged 5.76%. Freddie said the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.89% with an average 0.7 point, down from last week’s average of 3.92% and a year ago when it averaged 4.97%. It’s the lowest average rate for five-year ARMs since Freddie began tracking the product in January 2005. Freddie also put the average rate for a one-year Treasury-indexed ARM 3.82% with a 0.6 origination point, down from last week’s average of 3.91% and a year ago, when it averaged 4.95%. It’s the lowest average rate since May 2004, when it averaged 3.76%. Bankrate put the five-year ARM at 4.19% with a 0.48 origination point, up from last week’s average of 4.22%. Write to Austin Kilgore. The author held no relevant investments.