Industry News

Weekly real estate rates stand pat

Falling oil prices impact inflation indicators

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Mortgage rates flattened this week as sinking oil prices reduced inflation fears, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.37 percent for the week ended today, up very slightly from last week's average of 6.36 percent. The average for the 15-year fixed-rate mortgage is 5.9 percent, also up very slightly from last week when it averaged 5.89 percent. Points on both the 30- and 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.86 percent this week, with an average 0.6 point, up from last week when it averaged 5.81 percent. The one-year Treasury-indexed ARM averaged 5.2 percent, with an average 0.6 point, up from last week when it averaged 5.12 percent. "Recently released inflation indicators – the Consumer Price Index (CPI) and Producer Price Index (PPI) – brought down long-term bond yields, flattening out the yield curve," said Frank Notha...