Mortgage Rates Hold Steady
WASHINGTON – Mortgage rates were mostly flat over the past week amid a series of mixed economic reports, according to Freddie Mac.
“Although both the overall producer price index and consumer price index fell moderately in June on lower energy costs, the core price indexes inched up,” said Freddie Mac Chief Economist Frank Nothaft, adding that a consumer sentiment reading fell to its lowest level since March 2009.
The average for the 30-year fixed-rate mortgage was 4.52% for the week ended Thursday, compared with 4.51% the previous week; while the average for the 15-year fixed-rate mortgage inched up to 3.66%, from 3.65%.
ARM rates also were little changed, with the average for the five-year ARM dipping to 3.27%, from 3.29%; and the average for the one-year ARM moving up to 2.97%, from 2.95% last week.