Industry News

Real estate rates flatten, rebound

Mixed results found in Freddie Mac, Bankrate surveys

Mortgage rates this week either barely budged or gained, depending on which survey you read from Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.26 percent for the week ended today, down slightly from last week's average of 6.28 percent. The average for the 15-year fixed-rate mortgage is 5.81 percent, unchanged from last week. Points on both the 30- and 15-year averaged 0.5. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.76 percent this week, with an average 0.6 point, up very slightly from last week when it averaged 5.75 percent. The one-year Treasury-indexed ARM averaged 5.16 percent, with an average 0.8 point, also up very slightly from last week when it averaged 5.14 percent. "Mortgage rates are in a holding pattern at the moment as financial markets try to discern where inflation and growth in the economy are headed," said Frank Nothaft, Freddie Mac vice president and chief economist. "Until the market d...

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