U.S. Mortgage Rates Little Changed in Latest Week

By Bowdeya Tweh Features Dow Jones Newswires

Average fixed mortgage rates in the U.S. were little changed in the past week, according to mortgage-finance company Freddie Mac.

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For the week ended Thursday, 30-year fixed-rate mortgages averaged 3.93%, compared with 3.92% a week earlier and 3.43% one year ago.

Sean Becketti, chief economist at Freddie Mac, said the 0.01 percentage point move in the 30-year mortgage rate reflects the 10-year Treasury yield, which was relatively flat this week. "Despite a strong advance estimate for second quarter GDP, markets are erring on the side of caution," he said.

Rates on 15-year fixed-rate mortgages fell to 3.18%, compared with 3.2% last week and 2.74% a year earlier.

Five-year Treasury-indexed adjustable-rate mortgages, or ARMs, on average were at 3.15%, compared with 3.18% the previous week and 2.73% the previous year.

Write to Bowdeya Tweh at Bowdeya.Tweh@wsj.com

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(END) Dow Jones Newswires

August 03, 2017 10:22 ET (14:22 GMT)