By Matt Grossman
Mortgage rates were nearly flat in the latest week compared with last week, according to Freddie Mac's latest survey.
For the week ended Thursday, the rate on a 30-day fixed rate mortgage averaged 2.86%, down from 2.87% last week and lower than the 2.99% average a year earlier.
Rates on 15-year fixed-rate mortgages averaged 2.16%, up from 2.15% in the previous week. Rates averaged 2.54% a year earlier, according to Freddie Mac.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average stood at 2.43%, down from 2.44% last week and lower than the 2.91% rate a year earlier.
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(END) Dow Jones Newswires