U.S. Mortgage Rates Ease in Latest Week

By Dow Jones Business News, 
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Average mortgage rates in the U.S. edged down in the latest week, remaining near historic lows, according to mortgage- finance company Freddie Mac ( FMCC ).

"Mortgage rates were little changed amid a week of light economic reports," Freddie Mac Chief Economist Frank Nothaft said in a statement Thursday.

Among those few reports, U.S. industrial production edged up 0.2% in June from the previous month but missed market expectations, Mr. Nothaft noted. And the producer-price index for final demand, which measures changes in the prices firms receive for their goods and services, rose 0.4% in June from the prior month, rebounding after a 0.2% decline during May.

For the week ended Thursday, the 30-year fixed-rate mortgage averaged 4.13 %, compared with 4.15% a week earlier and 4.37% a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.23%, compared with 3.24% the previous week and 3.41% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average, were at 2.97%, compared with 2.99% the previous week and 3.17% a year earlier. One-year Treasury-indexed ARM rates on average were 2.39%, compared with 2.4% the previous week and 2.66% a year earlier.

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

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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This article appears in: Real Estate

Referenced Stocks: FMCC

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