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by CareyBot

Mortgage rates moved lower this week as financial markets grew more confident that the Federal Reserve would cool its 13-month-long interest-rate hikes, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.21 percent for the week ended today, down very slightly from last week's average of 6.22 percent. The average for the 15-year fixed-rate mortgage is 5.76 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 5.78 percent this week, with an average 0.7 point, down very slightly from last week when it averaged 5.79 percent. The one-year Treasury-indexed ARM averaged 5.16 percent, with an average 0.7 point, up v...