WASHINGTON – Home loan rates declined slightly this week, with the average for the benchmark 30-year mortgage remaining under 5%, according to Freddie Mac.
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The average for the 30-year loan dipped to 4.95% this week, from 4.97% last week; while the average for the 15-year, fixed-rate mortgage slipped to 4.32%, from 4.33%.
ARM rates also moved lower, with the average for the five-year ARM declining to 4.05% this week, from 4.11% last week; and the average for the one-year ARM moving to 4.22%, from 4.27%.
"During a light week of mixed economic reports, mortgage rates eased somewhat," said Frank Nothaft, chief economist for Freddie Mac.
