“Mortgage rates were little changed amid a week of light economic reports. Of the few releases, industrial production rose by 0.2 percent in June, below the market consensus forecast,” said Frank Nothaft, vice president at Freddie Mac. “Also, the producer price index for final demand rose 0.4 percent in June, rebounding from a 0.2 percent decline the prior month.”
The 30-year fixed-rate mortgage averaged 4.13% this week, down from last week’s average of 4.15%. Last year at this time, the 30-year FRM averaged 4.37%.
The 15-year FRM averaged 3.23%, down from last week’s 3.24%. A year ago, the 15-year FRM averaged 3.41%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.97% this week, down from last week’s average of 2.99%. Last year at this time, the 5-year ARM averaged 3.17%.
The 1-year Treasruy-indexed ARM averaged 2.39% this week, down from last week’s 2.40%. Last year, the 1-year ARM averaged 2.66%.
Fixed rates moved down slightly this week, according to data released by Freddie Mac.