Long-term mortgage rates mixed in week

WASHINGTON, June 16 (UPI) -- Long-term mortgage rates were mixed in the week ending June 16, the U.S. Federal Home Loan Mortgage Corp. said Thursday.

Average interest rates for 15-year loans fell from 3.68 percent to 3.67 percent, with 0.7 points, while 30-year mortgages rose to 4.5 percent from 4.49 percent with 0.7 points, Freddie Mac said.

Rates for 15-year, fixed-rate mortgages a year ago stood at 4.2 percent. Rates for 30-year mortgages a year ago averaged 4.75 percent.

"Mortgage rates were little changed this week as financial market participants shrugged off the recent inflation reports," said Frank Nothaft, Freddie Mac's vice president and chief economist.

"The core producer price index rose just 0.2 percent in May while the core consumer price index increased 0.3 percent, both near the market consensus forecast," he said.