Rates steady for 30-year mortgages
From Times Wire Services
Rates on 30-year mortgages were unchanged this week as a flood of new economic data did not change the general views of financial markets about inflation.
Freddie Mac, the mortgage company, reported that 30-year fixed-rate mortgages averaged 6.73% this week, the same as last week. That left the rate close to its high-point of the year, which was 6.74% set the week of June 14.
According to the Freddie Mac survey, rates on 15-year fixed-rate mortgages, a popular choice for refinancing, edged down slightly to 6.38%, compared with 6.39% last week.
Rates on five-year adjustable-rate mortgages averaged 6.35%, the same as last week.
