Rates Unchanged

The average 30-year fixed mortgage rate was unchanged at 6.92% for the week ending Aug. 28, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate was also unchanged, at 6.61%, as was the average rate for one-year Treasury-indexed adjustable-rate mortgages, at 5.58%. Fees and points averaged 1.1 for all three categories. "Interest rates have not been this low for this long since we started doing our weekly survey in 1971," said Robert Van Order, Freddie Mac's chief economist. "And it is our expectation that the mortgage rates will be even lower next week." A year ago, the average 30-year and 15-year fixed rates were 7.58% and 7.12%, respectively, and the average one-year ARM rate was 5.62%. Freddie Mac's website address is http://www.freddiemac.com.