Mortgage Rates Pretty Much Flatline

(RTTNews) - Mortgage rates or interest rates on home loans eased slightly for the week ending February 9, according to mortgage provider Freddie Mac.

Releasing the results of its primary mortgage market survey, Freddie Mac said that the 30-year fixed-rate mortgage or FRM averaged 4.17 percent for the week ended February 9, down from 4.19 percent last week. A year ago at this time, the average rate was 3.65 percent.

The 15-year FRM this week averaged 3.39 percent, down from last week when it averaged 3.41 percent. A year ago at this time, the 15-year FRM averaged 2.95 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage or ARM averaged 3.21 percent, down from 3.23 percent last week. It was 2.83 percent a year ago.

"Rates are at about the same level at which they started the year and have stayed within a two basis point range over the past three weeks. Mixed economic releases such as Friday's jobs report and uncertainty about the Administration's fiscal policies have contributed to the holding pattern in rates," said Sean Becketti, chief economist, Freddie Mac.