Mortgage rates slip for 2nd straight week

Mortgage rates slipped for the second consecutive week amid reports showing subdued inflation, Freddie Mac reported.

Rates on 30-year fixed-rate mortgages averaged 4.39 percent with an average point of 0.7 for the week ending Jan. 23, down from 4.41 percent last week but up from 3.42 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages and one-year Treasury-indexed adjustable-rate mortgages (ARMs) also edged down, while rates on five-year Treasury-indexed hybrid ARM loans inched up.

Source: Freddie Mac