Freddie Mac: Mortgage rates fluctuate during most recent week

Mortgage rates showed movement in all directions recently.According to Freddie Mac's latest Primary Mortgage Market Survey, the nation's mortgages experienced fluctuating intertest rates for the week ending July 28.The company's report revealed rates for 30-year fixed-rate mortgages rose to 4.55 percent, up from 4.52 percent the previous week and 4.54 last year. However, the rate for 15-year FRMs stayed at 3.66 percent for the second consecutive week, which is still down from 4 percent last year.”Macroeconomic data released this week were a mixed bag,” said Freddie Mac chief economist and vice president Frank Nothaft. “On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast. Partly offsetting this, orders for durable goods were weaker than market expectations for the same month. The net effect on mortgage interest rates was very little change from the prior week.”The rates for Treasury-indexed mortgages both declined, Freddie Mac reported. Rates for five-year adjustable-rate mortgages averaged 3.25 percent, down from 3.27 percent last week and 3.76 percent last year. One-year ARMs settled at an average rate of 2.95 percent, falling from 2.97 percent last week and from 3.64 percent the previous year.With an improving job market and more potential buyers interested, the Houston real estate market could record a significant number of transactions soon before rates climb any higher.Courtesy of 2M Realty News

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