McLEAN, Va. – Long-term mortgage rates resumed their retreat again this week, after tipping up slightly last week, according to Freddie Mac.
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The average for the 30-year loan slipped to 4.82% this week, from last week’s 4.87%; while the average for the 15-year, fixed-rate mortgage dipped to 4.48%, from 4.54%.
ARM rates were mixed, with the average for the five-year ARM also declining, to 4.88%, from 4.93% last week; and the average for the one-year ARM rising slightly to 4.91%, from 4.83%.
"Mortgage rates on fixed-rate loans and some ARM products eased this week," said Frank Nothaft, chief economist for Freddie Mac. "The housing industry is starting to exhibit some positive signs, albeit scarce and too early to tell how permanent it will be."
