Mortgage rates little changed in week

March 7, 2013 at 11:48 AM

WASHINGTON, March 7 (UPI) -- Long-term U.S. mortgage rates were little changed in the week, the Federal Home Loan Mortgage Corp. said Thursday.

Rates for 30-year, fixed-rate mortgages rose from 3.51 percent with an average 0.7 point to 3.52 percent, Freddie Mac said.

Rates for 15-year contracts were unchanged at 2.76 percent with an average 0.7 point.

One point is equal to 1 percent of the amount of the loan and is typically paid up front. It includes a corresponding discount on the loan's long-term interest rates.

Interest rates for five-year adjustable rate mortgages rose from 2.61 percent with an average of 0.5 points to 2.63 percent.

One-year adjustable rate mortgages using 10-year bonds as a benchmark, averaged 2.63 percent with 0.3 point in the week, down from 2.64 percent in the previous week.

Related UPI Stories
Topics: Freddie Mac
Latest Headlines
Trending Stories
Pepsi to release 'Back to the Future Part II' inspired Pepsi Perfect
Nobel Prize in medicine awarded to parasitic disease scientists
Womb transplants begin in U.K. after Sweden's success
Gay Vatican priest comes out day before Pope Francis begins synod on family issues
Scientists find roadmap that may lead to 'exercise pill'