U.S. mortgage rates mixed

MCLEAN, Va., Oct. 18 (UPI) -- U.S. mortgage rates are mixed in light of continued high housing inventories and slow sales, the Freddie Mac mortgage market survey said Thursday.

The 30-year fixed-rate mortgage averaged 6.40 percent with an average 0.5 point this week, unchanged from last week,

The 15-year fixed-rate mortgage this week averaged 6.08 percent with an average 0.6 point, up from last week’s 6.06 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.11 percent this week, with an average 0.5 point, down slightly from last week’s 6.12 percent.

One-year Treasury-indexed ARMs averaged 5.76 percent this week with an average 0.6 point, up from last week’s 5.73 percent.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing.