WASHINGTON Long-term mortgage rates remained unchanged this week, with the average for the 30-year home loan remaining at 4.4% for a second week in a row, according to Freddie Mac.
The average for the 15-year, fixed-rate loan inched up to 3.44% from 3.43%.
ARM rates tipped up, with the average for the five-year ARM moving to 3.23% from 3.19%; and the average for the one-year ARM rising to 2.67% from 2.62%.
“Fixed mortgage rates have been bouncing around over the past few weeks on market speculation that the Fed will taper some of its monetary stimulus,” said Frank Nothaft, chief economist for Freddie Mac. “Currently, mortgage rates on 30-year fixed mortgages are 1.1 percentage points above their all-time low set on Nov. 21, 2012, which translates into $125 more per month in mortgage payments on a $200,000 loan."
