Average 30-year fixed mortgage rates in the U.S. were flat in
the latest week, according to mortgage-finance company Freddie Mac
(FMCC).
Overall, mortgage rates were little changed during the period,
in which economic reports were light, Freddie Mac Chief Economist
Frank Nothaft noted in a statement Thursday. Of the few economic
reports, the Institute for Supply Management's manufacturing index
for August came in stronger than expected and marked its highest
reading since March 2011.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 4.1%, unchanged from a week earlier and down from 4.57% a
year earlier. Rates on 15-year fixed-rate mortgages averaged 3.24%,
compared with 3.25% the previous week and 3.59% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.97%, unchanged from the previous week
and down from 3.28% a year earlier. One-year Treasury-indexed ARM
rates on average were 2.4%, compared with 2.39% the previous week
and 2.71% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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