Average fixed mortgage rates in the U.S. were little changed in the past week, according to mortgage-finance company Freddie Mac.
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.
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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
(END) Dow Jones Newswires
August 03, 2017 10:22 ET (14:22 GMT)