WASHINGTON -- Home-mortgage rates held the line this week, remaining at three-month lows, with the average rate on 30-year, fixed-rate mortgages remaining just above 5%, according to Freddie Mac's weekly survey.
Freddie said the 30-year fixed-rate mortgage averaged 5.04% for the week ended Thursday, unchanged from last week's average and down from 6.09% a year ago. Rates on 15-year fixed-rate mortgages were 4.46%, compared with 4.47% last week and 5.77% a year ago.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.51%, flat with last week but down from 6.02% a year earlier. One-year Treasury-indexed ARMs were 4.52%, dropping from 4.58% and 5.03%, respectively.
Freddie chief economist Frank Nothaft said the results, which ended three consecutive weeks of declines in fixed mortgage rates, come on the heels of the Mortgage Bankers' Association reporting a 13% jump in mortgage applications last week. The results, boosted by refinancings, were the strongest since May.
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