30-year mortgage rate declines to 3.38%

[admin]

30-year mortgage rate declines to 3.38%
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - The average rate on the 30-year fixed-rate mortgage declined to 3.38% in the week ended Jan. 17 from 3.40% in the prior week, Freddie Mac said Thursday in its weekly report. A year ago, the 30-year rate was at 3.88%. "Mortgage rates were flat to down a little this week amid reports that inflation remains contained," said Frank Nothaft, Freddie Mac's chief economist, in a statement. The 15-year fixed-rate mortgage remained at 2.66% in the latest week. Meanwhile, the average rate on the 5-year Treasury-indexed hybrid adjustable-rate mortgage remained at 2.67%. The 1-year Treasury-indexed ARM fell to 2.57% from 2.60%.