U.S. mortgage rates mixed in week

WASHINGTON, July 10 (UPI) -- Interest rates for 30-year, fixed-rate mortgages rose slightly in the United States in the last week, the Federal Home Loan Mortgage Corp. said Thursday.

The average 30-year fixed interest rate averaged 6.37 percent with an average 0.6 points on the week ending July 10, compared with 6.35 percent for the previous week, Freddie Mac said. A year ago, 30-year fixed rate mortgages averaged 6.73 percent.

At 5.91 percent with an average 0.6 points, the 15-year fixed rate average fell slightly, down from the previous week's average of 5.92 percent, the report said.

"In the housing sector, economic reports were mixed this week," said Frank Nothaft, Freddie Mac vice president and chief economist.

"Pending sales for existing homes fell more than expected in May but April's increase was revised even higher, according to the National Association of Realtors," Nothaft said.

"Offsetting this decline, the number of mortgage applications for home purchases over the week ending July Fourth was nearly 10 percent above the over five-year low set just two weeks prior, despite the holiday break," he said.