Average fixed mortgage rates in the U.S. edged up in the latest
week, remaining around lows for the year, according to
mortgage-finance company Freddie Mac (FMCC).
Freddie Mac Chief Economist Frank Nothaft said in a statement
Thursday that nonmanufacturing-activity and factory-orders data
released in the latest week "signal steady economic growth in the
third quarter of the year."
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 4.14%, compared with 4.12% a week earlier and 4.40% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.27%,
compared with 3.23% the previous week and 3.43% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.98%, compared with 3.01% the previous
week and 3.19% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.35%, compared with 2.38% the previous week and
2.62% a year earlier.
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