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by CareyBot

Mortgage rates reversed a two-week climb this week, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.74 percent for the week ended today, down from last week when it averaged 5.76 percent. The average for the 15-year fixed-rate mortgage this week is 5.15 percent, down slightly from last week when it averaged 5.16 percent. Points on both the 30- and 15-year averaged 0.6. One-year Treasury-indexed adjustable-rate mortgages averaged 4.17 percent this week, with an average 0.7 point, up from last week when they averaged 4.16 percent. "Because long-term mortgage rates are still well below the peak levels reached last May of this year, housing starts are currently exceeding expectations," said Frank Nothaft, Freddie Mac...