Industry News

Real estate rates take a breather

Markets await next week's inflation reports

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Mortgage rates posted mixed results this week in surveys conducted by Freddie Mac and Bankrate.com, remaining mostly unchanged from the week before, the companies announced today. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.58 percent for the week ended today, down from last week's average of 6.59 percent. The average for the 15-year fixed-rate mortgage is 6.17 percent, down from last week's average of 6.22 percent. Points on both the 30- and 15-year averaged 0.5. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 6.22 percent this week, with an average 0.5 point, up from last week when it averaged 6.21 percent. The one-year Treasury-indexed ARM averaged 5.62 percent, with an average 0.7 point, down from last week when it averaged 5.67 percent. "Less-than-expected job growth in April helped mortgage rates to level off this week. Even ARM rates were little affected by the Federal Reserve's increase in the federal funds rate," said Frank Noth...