Mortgage rates ease

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Rates on 30-year fixed-rate mortgages averaged 4.51 percent with an average point of 0.7 for the week ending Aug. 29, down from 4.58 percent last week but up from 3.59 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages and one-year Treausry-indexed adjustable-rate mortgage (ARM) loans dropped, while rates on Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans increased.

Source: Freddie Mac