Industry News

Real estate rates take a breather from climb

Markets put faith in Fed's inflation-fighting

Mortgage rates this week eased from their four-week ascent, as inflation became less of a concern to investors, according to surveys conducted by 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 from last week's average of 6.28 percent. The average for the 15-year fixed-rate mortgage is 5.89 percent, down from last week's average of 5.91 percent. Points on both the 30- and 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.96 percent this week, with an average 0.6 point, up slightly from last week when it averaged 5.95 percent. The one-year Treasury-indexed ARM averaged 5.32 percent, with an average 0.7 point, down from last week when it averaged 5.36 percent. "Tame core inflation figures and market confidence that the Fed will continue to keep inflation low kept mortgage rates in check this week," said Frank Nothaft, Freddie Mac vice president and c...

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