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Mortgage rates flat in week

July 21, 2011 at 11:42 AM   |   Comments

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WASHINGTON, July 21 (UPI) -- Long-term mortgage rates held relatively stable in the week ending Thursday, the U.S. Federal Home Loan Mortgage Corp. said.

Average interest rates for 15-year loans rose from 3.65 percent to 3.66 percent with 0.7 points while 30-year mortgages rose from 4.51 percent to 4.52 percent with 0.7 points, Freddie Mac said.

Rates for 15-year, fixed-rate mortgages a year ago stood at 4.03 percent. Rates for 30-year mortgages a year ago averaged 4.56 percent.

"Mortgage rates were virtually unchanged this week amid mixed economic data reports. Although both the overall producer price index and consumer price index fell moderately in June on lower energy costs, the core price indexes inched up," Frank Nothaft, Freddie Mac's vice president and chief economist, said in a statement.

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