McLEAN, Va. – Mortgage rates remained stable this week, tipping down only slightly, according to Freddie Mac.
The average for the 30-year, fixed-rate loan dipped to 5.10%, from 5.12% last week; while the average for the 15-year, fixed-rate mortgage was unchanged at 4.80%.
ARM rates were mixed, with the average for the five-year ARM rising to 5.27%, from 5.24%, and the average for the one-year ARM slipping slightly to 4.90%, from 4.92%.
"Mortgage rates held steady this week," said Frank Nothaft, chief economist for Freddie Mac. "The index of leading indicators rose 0.3% in December, the first increase in six months, fueled by an expansion in the money supply. However, the Federal Reserve acknowledged in its Jan. 28 policy committee statement that since December the economy has weakened further."
