By Chelsey Dulaney
Average fixed mortgage rates in the U.S. fell in the latest
week, according to mortgage-finance company Freddie Mac (FMCC).
Freddie Mac Chief Economist Frank Nothaft said Thursday that the
drop followed weaker-than-expected pending home sales data.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.59%, compared with 3.66% a week earlier and 4.32% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 2.92%,
compared with 2.98% the previous week and 3.4% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.82%, compared with 2.86% the previous
week and 3.12% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.39%, compared with 2.38% the previous week and
2.55% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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