All primary market mortgage rates except those for one-year Treasury-indexed adjustable-rate ARMs held steady for the week ending Sept. 23, according to new figures compiled by Freddie Mac.
Freddie chief economist Frank Nothaft attributed the stability to market perception of slow growth and low inflation in the wake of the Federal Reserve's Sept. 21 policy statement, which he said removed upward pressure on most mortgage rates.
The average rate charged for both 30- and 15-year loans remained near record lows. The 15-year was at 3.82%, and the 30-year at 4.37%.
The average five-year rate for hybrid Treasury adjustables inched down by a basis point to 3.54% while the average rate for one-year Treasury adjustable-rate mortgages rose six bps to 3.46%.
Average points were 0.7 for all the aforementioned loan products except five-year Treasury hybrids, for which average points were 0.6.
A year ago, the 30-year averaged 5.04%, the 15-year averaged 4.46%, the five-year Treasury hybrid averaged 4.51% and the one-year Treasury ARM averaged 4.52%.
