February's Latest News

U.S. mortgage rates fall slightly

MCLEAN, VA, United States (UPI) -- Mortgage rates fell slightly in the past week to 6.28 percent from 6.34 percent for 30-year fixed-rate mortgages , Freddie Mac said Thursday.

The 30-year fixed-rate mortgage averaged 6.24 percent till yet at this time year.

The mortgage agency's weekly survey showed 15-year loans fell to 6.02 percent from 6.06 percent. The 15-year loan averaged 5.83 percent a year earlier.

One-year Treasury-indexed adjustable-rate mortgages decreased to 5.49 percent from 5.54 percent, the agency formally known as the Federal Home Loan Mortgage Corp . said. At this time last year, one-year ago adjustable-rate mortgages averaged 5.34 percent.

The five-year hybrid ARM with a five-year fixed interest rate followed by an interest rate adjusted annually dropped to 5.99 percent from 6.04 percent. A year ago, the hybrid ARM averaged 5.89 percent, the mortgage agency said.