U.S. Fixed Mortgage Rates Fall in Latest Week

By Dow Jones Business News, 
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Average fixed mortgage rates in the U.S. eased in the latest week, following bond yields downward, with the 30-year- fixed rate back at its low level for this year, according to mortgage-finance company Freddie Mac ( FMCC ).

Freddie Mac Chief Economist Frank Nothaft noted in a statement Thursday that of the few economic reports during the latest week, July retail sales were virtually unchanged, following a 0.2% increase in June, ending five months of increases.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 4.12%, compared with 4.14% a week earlier and 4.4% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.24%, compared with 3.27% the previous week and 3.44% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, was at 2.97%, compared with 2.98% the previous week and 3.23% a year earlier. One-year Treasury-indexed ARM rates on average were 2.36%, compared with 2.35% the previous week and 2.67% a year earlier.

Write to Tess Stynes at tess.stynes@wsj.com

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This article appears in: US Markets , Real Estate

Referenced Stocks: FMCC

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