Mortgage rates barely moved in the past week, according to the latest Freddie Mac Primary Mortgage Market Survey.
For the week ending January 17, 30-year fixed rates held steady at 4.45 percent. Last year’s 30-year rate averaged 4.04 percent.
Fifteen-year fixed rates dropped by the slightest margin, from 3.89 percent to 3.88 percent. A year ago at this time, the 15-year rate averaged 3.49 percent.
The rate for 5-year adjustable-rate mortgages averaged 3.87 percent last week. That was slightly up from 3.83 percent the week before. Last year, it was 3.46 percent.
“Weaker manufacturing data and a more dovish tone from the Federal Reserve left mortgage rates unchanged relative to last week,” said Freddie Mac Chief Economist Sam Khater.
“However, interest rate-sensitive sectors of the economy – such as consumer mortgage demand and homebuilder construction sentiment – are on the mend, which indicates that lower interest rates are beginning to have a positive impact on some segments of the economy.”