Fixed mortgage rates were basically flat during the week ended Jan. 17, with the average rate for a 30-year at 4.45%, flat compared with the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.
A year ago at this time, the average rate for a 30-year was 4.04%.
“Weaker manufacturing data and a more dovish tone from the Federal Reserve left mortgage rates unchanged relative to last week,” says Sam Khater, chief economist for Freddie Mac, in a statement. “However, interest rate-sensitive sectors of the economy – such as consumer mortgage demand and homebuilder construction sentiment – are on the mend, which indicates that lower interest rates are beginning to have a positive impact on some segments of the economy.”
The average rate for a 15-year fixed-rate mortgage was 3.88%, down slightly from 3.89% the previous week. A year ago at this time, the average rate for a 15-year was 3.49%.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.87%, up from 3.83%. A year ago at this time, the five-year ARM averaged 3.46%.