WASHINGTON – Long-term mortgage rates moved lower this week after jumping the week before, according to Freddie Mac.
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The average for the benchmark 30-year loan dipped to 3.99%, from 4.08%, after being below 4% the prior six weeks in a row. The average for the 15-year mortgage declined to 3.23%, from 3.30% the week before.
ARM rates also fell this week, with the average for the five-year ARM dropping to 2.90%, from 2.96% last week; and the average for the one-year ARM slipping to 2.78%, from 2.84%.
“Mortgage rates slid this week amid weaker housing economic indicators,” said Frank Nothaft, chief economist for Freddie Mac.
