WASHINGTON – Mortgage rates were almost flat this week, with the benchmark 30-year rate declining a single basis point to 5.06%, according to Freddie Mac.
The average for the 15-year, fixed-rate loan was unchanged from last week at 4.39%.
ARM rates were mixed, with the average for the five-year ARM rising to 4.25%, from 4.22% last week; and the average for the one-year ARM slipping to 4.00%, from 4.03%.
"Mortgage rates on 30-year fixed loans have averaged about 5% over the first four months of this year, staying within a band of roughly a quarter percentage point and virtually matching 2009's annual average," said Frank Nothaft, chief economist for Freddie Mac.
"These low rates have been helping to moderate house price declines over the course of the year," he said.
