Home Mortgage Rates Fall to 5.77% in Week
Dow Jones Newswires</br></br>NEW YORK -- Home mortgage rates fell during the past week, as economic news reflected stable growth and low inflation, said Freddie Mac, the housing-finance agency.</br></br>The average for 30-year fixed mortgage rates for the week ended yesterday fell to 5.77% from 5.81% a week earlier, Freddie Mac said in its weekly primary mortgage-market survey. A year ago, the 30-year mortgage averaged 5.87%.</br></br>The rate for five-year Treasury-indexed hybrid adjustable-rate mortgages, a new addition to the primary mortgage-market survey, averaged 5.03%.</br></br>The rate for one-year Treasury-indexed ARMs fell to 4.10% from last week's average of 4.19%. A year ago, the one-year ARM averaged 3.76%.