The average 30-year fixed mortgage rate remained unchanged, at 6.05%, for the week ending Oct. 24, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate rose slightly from 5.36% to 5.39%, and the average rate for one-year Treasury-indexed adjustable-rate mortgages declined from 3.79% to 3.76%. Fees and points averaged 0.7 points for all three mortgage categories. "Mortgage rates were mostly unchanged this week in reaction to quiet market conditions," said Frank Nothaft, Freddie Mac's chief economist. ".... Judging by the current flow of mortgage applications reported by the Mortgage Bankers Association of America, it looks like we will close out the year in record-breaking territory again." A year ago, the average 30-year and 15-year fixed rates were 6.31% and 5.70%, respectively, and the average one-year ARM rate was 4.30%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.
Rates Hold Steady
Published October 23, 2003, 2:00 p.m. EDT
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