Mortgage rates recede slightly | Pound Ridge Homes

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Average mortgage rates in the U.S. fell slightly in the past week, according to mortgage-finance company Freddie Mac, as markets looked ahead to the Federal Open Market Committee meeting next week for indications of whether the Federal Reserve will taper its bond-buying program.

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

Of the economic data released, the November unemployment rate was down at 7 percent, and outstanding single-family mortgage debt was up for the first time since 2008, he added.

For the week that ended Thursday, the 30-year fixed-rate mortgage averaged 4.42 percent, compared with 4.46 percent a week earlier and 3.32 percent a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.43 percent, compared with 3.47 percent the previous week and 2.66 percent a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages on average were 2.94 percent, compared with 2.99 percent the previous week and 2.7 percent a year earlier.

One-year Treasury-indexed ARM rates on average were 2.51 percent, down slightly from 2.59 percent the previous week but up from 2.53 percent last year.




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