McLEAN, Va. – The long-term home loan rats rose slightly this week, slowing from the violent see-sawing of recent weeks, according to Freddie Mac.
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The average for the 30-year loan moved to 5.42%, from 5.38% last week. The average for the 15-year, fixed-rate mortgage dipped slightly to 4.87%, from 4.89%.
Short-term rates were mixed also, with the average for the five-year ARM inching up to 4.99%, from 4.97% last week’ and the average for the one-year ARM dipping to 4.93%, from 4.95%.
"Mixed economic reports on the state of the housing market helped hold mortgage rates fairly flat," said Frank Nothaft, chief economist for Freddie Mac.
