Long-term mortgage rates in the US were relatively steady in the week after reports noted mixed signals on the health of the economy, according to a Freddie Mac survey.
Rates were restricted from an uptrend in light of mixed economic data, two weeks after the 30-year fixed mortgage dropped 3.94 percent for the first time.
The most recent 30-year fixed rate stood at 4.11 percent, down from 4.12 percent recorded last week. On a year-on-year perspective, the 30-year fixed rate averaged 4.21 percent last year.
The 15-year fixed rate averaged 3.38 percent, gaining ground from last week’s 3.37 percent average and 3.64 percent a year ago.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) fell from a 3.06 percent average last week to 3.01 percent this week.
Meanwhile, the one-year Treasury-indexed ARM rose from last week’s average of 2.90 percent to 2.94 percent, but down from 3.30 percent a year ago.
Factors affecting rates include a Federal Reserve report of the general economic expansion in September but with waning outlooks for some areas of business.
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