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Mortgage rates ease again

Impact of Fed's MBS exit may be tempered by Fannie, Freddie purchases

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Rates on 30-year fixed-rate mortgages averaged 4.93 percent with an average of 0.7 point this week, down from 4.97 percent a week ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. The 15-year fixed-rate mortgage averaged 4.33 percent with an average 0.6 point, down from 4.34 percent last week and 4.68 percent a year ago. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loan averaged 4.12 percent with an average 0.5 point, down from 4.19 percent last week and 5.04 percent a year ago. The 1-year Treasury-indexed ARM averaged 4.23 percent with an average 0.6 point, down from 4.33 percent last week and 4.8 percent a year ago. Rates surveyed by Freddie Mac are for prime borrowers taking out loans with 20 percent downpayments. Borrowers taking out loans too large or risky for purchase or guarantee by Freddie Mac can expect to pay more. After hitting a low of 4.71 percent in December in records dating back to 1971, rate...