Average fixed mortgage rates in the U.S. edged up in the latest
week, according to mortgage-finance company Freddie Mac (FMCC).
"Mortgage rates were little changed this week, entering April
about where we started the year," Freddie Mac Deputy Chief
Economist Len Kiefer stated Thursday.
Mr. Kiefer noted that the final fourth-quarter gross domestic
product growth estimate was unchanged from a previous estimate for
a 2.2% increase. Also, pending home sales rose 3.1% in February,
beating expectations.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.7%, compared with 3.69% a week earlier and 4.41% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 2.98%,
compared with 2.97% the previous week and 3.47% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.92%, unchanged from the previous week
and down from 3.12% a year earlier. One-year Treasury-indexed ARM
rates on average were 2.46%, flat from the previous week and up
slightly from 2.45% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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