30-Year-Fixed Mortgage Rates Remain Relatively Flat

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From Realtor.com February 13, 2014

Mortgage rates for most U.S. home loans remained largely unchanged this week following news of rising unemployment claims.

The average for a 30-year fixed-rate mortgage rose to 4.28 percent, up slightly from 4.23 percent last week, according to the latest survey from mortgage buyer Freddie Mac. Although the increase was small, it marked the first time the 30-year fixed-rate mortgage has risen in 2014. The popular loan averaged 4.53 percent at the start of 2014 and was at 3.53 percent a year ago.

The 15-year fixed-rate average remained the same week-over-week at 3.33 percent. It averaged 3.55 percent at the beginning of this year, and was at 2.77 percent a year earlier.

Averages for hybrid adjustable-rate mortgages were mixed. At 3.08 percent a week ago, the five-year ARM is now trending at 3.05 percent. A year ago, it averaged 2.64 percent. The one-year ARM rose to 2.55 percent from 2.51 percent a week ago. It averaged 2.61 percent at this time last year.

“Mortgage rates were little changed amid a week of light economic reports,” Frank Nothaft, vice president and chief economist for Freddie Mac, said in a statement. “Of the few releases, the economy added 113,000 jobs [PDF] in January, which was below the market consensus forecast and followed a slight upward revision of 1,000 jobs in December. Meanwhile, the unemployment rate fell to 6.6 percent, which makes 13 consecutive months without an increase.”

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