By Tess Stynes
Average fixed mortgage rates in the U.S. fell in the latest
week, according to mortgage-finance company Freddie Mac (FMCC), as
investors watch for signals about how the spring homebuying season
will play out this year.
"Mortgage rates eased a bit following the decline in 10-year
Treasury yields," Freddie Mac Chief Economist Frank Nothaft noted
in a statement Thursday. The U.S. economy also added fewer than
expected jobs during March, though February figures were revised
higher. Meanwhile, the unemployment rate held steady, Mr. Nothaft
said.
Rates have wavered recently as markets watch for further signals
on the Federal Reserve's bond-buying program and the U.S.
economy.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 4.34%, compared with 4.41% a week earlier and 3.43% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.38%,
compared with 3.47% the previous week and 2.65% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were 3.09%, compared with 3.12% the previous week
and 2.62% a year earlier. One-year Treasury-indexed ARM rates on
average were 2.41%, compared with 2.45% the previous week and 2.62%
a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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