Industry NewsMortgage

Little change in mortgage rates

Mixed economic news keeps rates flat
Published on Jun 25, 2009

Mortgage rates were mostly flat this week on mixed economic news, Freddie Mac said in releasing the results of its weekly mortgage market survey.At 5.42 percent with an average of 0.7 point for the week ending June 25, 30-year fixed-rate mortgages were up slightly from 5.38 percent a week ago but down from 6.45 percent a year ago.The 15-year fixed-rate mortgage averaged 4.87 percent with an average 0.7 point, down from 4.89 percent last week and 6.04 percent a year ago.Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.99 percent with an average 0.7 point, up from 4.97 percent last week but down from 5.99 percent a year ago.One-year Treasury-indexed ARMs averaged 4.93 percent with an average 0.7 point, down from 4.95 percent last week and 5.27 percent a year ago.Those rates apply to conventional, conforming mortgages available to homebuyers with good credit and making 20 percent down payments. *** What's your opinion? Leave your comments below or send a lett...

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