McLEAN, Va. – Long-term mortgage rates barely budged this week, for the fourth week in a row, according to Freddie Mac.
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“Despite a weak housing market, mortgage rates remained almost unchanged this week based on better-than-expected economic data releases that indicated the economy still has some staying power,” said Frank Nothaft, chief economist for Freddie Mac.
The average for the benchmark 30-year, fixed-rate loan slipped slightly to 6.05% this week, from 6.06% last week; while the average for the 15-year, fixed-rate mortgage moved up slightly to 5.60%, from 5.59%.
The average for the one-year ARM was unchanged from last week, at 5.29%, while the average for the five-year ARM moved down to 5.67%, from 5.73% last week.
