Fixed-rate mortgages mostly flat
From Times Wire Services
Rates on 30-year fixed-rate mortgages averaged 6.40% this week, the same as last week, mortgage company Freddie Mac said.
Fifteen-year fixed-rate mortgages, a popular choice for refinancing, averaged 6.08%, up slightly from 6.06% last week. Five-year adjustable-rate mortgages averaged 6.11%, basically unchanged from 6.12% the previous week. Rates on one-year ARMs edged up to 5.76%, compared with 5.73% last week.
The rates do not include add-on fees known as points. Thirty-year mortgages and five-year ARMs both carried a nationwide average fee of 0.5 of a point. The 15-year mortgage and the one-year ARM both had a fee of 0.6 of a point.
