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Mortgage Rates Mostly Unchanged

Freddie Mac released its weekly update on national mortgage rates on Thursday morning, showing a slight moderation of rates around the country.

Thirty-year fixed-rate mortgages (FRMs) slipped two basis points over the past week, falling to 4.39%, while 15-year FRMs shed a single basis point, down to 3.44%.

Among adjustable-rate mortgages (ARMs), paths diverged as 1-year ARMs mimicked the moves of the longer-term mortgage market, falling two basis points to 2.54%, but 5/1 ARMs moved the other way -- rising five b.p. to hit 3.15%.

Commenting on the results, Freddie Mac vice president and chief economist Frank Nothaft in a statement pointed to "subdued" inflation in the economy in general as a reason for the depressed mortgage rates. "The Consumer Price Index was up to 0.3 percent in December after being unchanged in November," noted Nothaft, after consumer prices rose only 1.5% in all of 2013.


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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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