Average fixed-mortgage rates changed little for the week amid the federal debt impasse in Washington, D.C. and a light week of economic data releases, according to the Primary Mortgage Market Survey released by Freddie Mac.
The 30-year fixed-rate mortgage averaged 4.23 percent for the week ending Oct. 10, up from last week when it averaged 4.22 percent. A year ago at this time, the 30-year FRM averaged 3.39 percent.
The 15-year FRM this week averaged 3.31 percent, up from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.70 percent.
"Mortgage rates were little changed amid the federal debt impasse in Washington, D.C. and a light week of economic data releases," Frank Nothaft, vice president and chief economist at Freddie Mac, said in a statement. "Of the few releases, the private sector added an estimated 166,000 jobs in September, which were fewer than the market consensus and followed a downward revision of 17,000 workers in August, according to the ADP Research Institute. The Institute for Supply Management reported a greater slowing in growth in the nonmanufacturing industry in September than the market consensus forecast."





