Mortage Rates Ease a Little

In the news…Freddie Mac’s weekly survey shows that the average interest on a 30-year fixed mortgage was 5 percent for the week ended Feb. 17, down from 5.05 percent the previous week. Rates on 15-year fixed loans averaged 4.27 percent, meanwhile, a decline from 4.29 percent the week before. Five-year adjustable-rate mortgages fell to 3.87 percent from 3.92 percent, but one-year ARMs were up to 3.39 percent from 3.35 percent.
[SOURCES: Freddie Mac; Information, Inc.]