Freddie Mac: Mortgage rates decrease

WASHINGTON – Mortgage rates decreased last week for the first time in about a month, according to mortgage buyer Freddie Mac.
Last week’s rate for a 30-year fixed rate mortgage hovered at 3.8 percent, but in the week ending Thursday, the rate decreased to 3.75 percent. The 30-year fixed rate mortgage averaged 4.28 percent during the same time last year.
The 15-year fixed-rate mortgage also fell to 3.03 percent from 3.07 percent a week earlier, representing a decrease of .25 percentage points from the same time last year.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.96 percent this week with an average .5 point, representing a decrease from an average of 2.99 percent a week earlier. The five-year adjustable-rate mortgage averaged 3.03 percent during the same time last year.
The one-year Treasury-indexed adjustable-rate mortgage averaged 2.44 percent last week with an average .4 point, unchanged from a week earlier, but .08 percentage points fewer than the same time last year.