MCLEAN, Va., Dec. 27 The U.S. housing market saw
mortgage rates inch up this week as a report showed home prices in 10 major U.S. cities continued to decline.
The 30-year fixed-rate mortgage averaged 6.17 percent with an average 0.5 points, up from last week's 6.14 percent with an average 0.4 points, the Freddie Mac mortgage market
survey said Thursday.
The 30-year fixed-rate mortgage averaged 6.18 percent this week last year.
The 15-year fixed-rate mortgage averaged 5.79 percent, with an average 0.5 points, unchanged from last week and lower than the 5.93 percent a year ago.
Five-year Treasury-indexed
hybrid adjustable-rate mortgages averaged 5.90 percent with an average 0.5 points, uncharged from last week.
One-year Treasury-indexed adjustable-rate mortgages averaged 5.53 percent this week with an average 0.7 points, up from 5.51 percent last week.
U.S. home prices dropped a record 6.7 percent in October, the S&P/Case-Shiller 10-city home-price index said.
Freddie Mac is a stockholder-owned
corporation established by the U.S. Congress in 1970 to
support homeownership and rental housing.
Copyright 2007 by UPI
