Average mortgage rates in the U.S. were mostly unchanged in the
latest week, with only the 30-year fixed-rate mortgage average
recording a slight decline, according to mortgage-finance company
Freddie Mac (FMCC).
"Mortgage rates were little changed from the previous week and
remain below levels seen the same time last year, which should
provide some help with homebuyer affordability in many markets,"
Freddie Mac Chief Economist Frank Nothaft said Thursday.
"Recent housing data was better with pending home sales up 6.1%
in May and overall construction spending showing a slight
improvement with private residential spending now up 7.5% on yearly
basis," he added.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 4.12%, compared with 4.14% a week earlier and 4.29% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.22%,
unchanged from the previous week and down from 3.39% a year
earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.98%, also unchanged from the previous
week, but down from 3.10% a year earlier. One-year Treasury-indexed
ARM rates on average were 2.38%, compared with 2.4% the previous
week and 2.66% a year earlier.
Write to Anna Prior at anna.prior@wsj.com
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