Mortgage Rates Give Mixed Signals: Freddie

Mortgage rates dipped slightly for the week ending Oct. 2 despite strong GDP data, according to a weekly report from Freddie Mac.

The government-sponsored enterprise said the average rate for 30-year fixed-rate mortgages was 4.19%, down by one basis point from last week. Rates for 15-year fixed-rate mortgages remained unchanged, at 3.36%.

Meanwhile, five-year hybrid ARMs averaged 3.06%, or two basis points lower than last week. The average rate for one-year ARMs dropped by one basis point, to 2.42%.

"Mortgage rates were flat to slightly down across the board as GDP was revised up from 4.2% to 4.6% for the second quarter," said Frank Nothaft, Freddie Mac's vice president and chief economist, in a news release Thursday.

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