WASHINGTON – Home loan rates dipped this week, the first decline in a month, but still remained above record lows, according to Freddie Mac.
The average for the benchmark 30-year, fixed-rate loan slipped to 5.09% this week, from 5.14% last week; while the average for the 15-year, fixed-rate mortgage dipped to 4.50%, from 4.54%.
ARM rates were almost unchanged, with the average for the five-year ARM at 4.44%, the same as last week, and the one-year ARM average at 4.31%, down from 4.33% last week.
"Mortgage rates eased slightly this week after rising consecutively through December," said Frank Nothaft, chief economist for Freddie Mac. "Current interest rates for fixed-rate mortgages are just about at their annual average for 2009, while ARM rates are considerably below their averages for last year.”
