Long-Term Mortgage Rates Show Little Change

June 26, 2008 10:46:53 AM PDT
Long-term mortgage rates are higher this week -- but not by much. Freddie Mac says the 30-year fixed-rate mortgage is averaging 6.45 percent compared with last week's rare of 6.42 percent. A year ago, it averaged 6.67 percent.

The average for the 15-year loan stands at 6.04 percent -- up two basis points from last week. At this time last year, the 15-year fixed rate mortgage averaged 6.34 percent.

Freddie Mac vice president and chief economist Frank Nothaft (NOH'-taft) says a lot of the stability was due to uncertainty about what the Fed would do at yesterday's meeting.