WASHINGTON -- Rates on fixed-rate mortgages inched up slightly this week, with the 30-year fixed-rate mortgage averaging 4%, according to Freddie Mac.
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Rates on the 30-year mortgage averaged 3.99% last week and 4.39% a year ago.
Fifteen-year fixed-rate mortgages averaged 3.31% this week, up from 3.30% last week; the 15-year mortgage averaged 3.76% a year ago.
ARM rates were mixed, with the average for the five-year ARM inching down to 2.97%, from 2.98% last week; and the average for the one-year ARM rising slightly to 2.98%, from 2.95%.
“Mortgage rates were little changed this week just as the economy is showing potential for further gains in the near term,” said Frank Nothaft, chief economist for Freddie Mac.
