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Mortgage rates flat
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June 24, 1999: 12:17 p.m. ET
Rates already have factored in Fed hike, Freddie Mac says
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NEW YORK (CNNfn) - Mortgage rates were little changed this week after recent swings in both directions, mortgage firm Freddie Mac reported Thursday.
For the week ending June 25, the average rate on U.S. 30-year fixed-rate mortgages was 7.63 percent, down slightly from last week's 7.65 percent. One year ago, the rate was 6.96 percent.
Fifteen-year loans climbed to 7.28 percent from 7.26 percent the week before. The rate for these mortgages averaged 6.64 percent for the same period last year.
One-year adjustable-rate mortgages rose to 5.93 percent from last week's 5.94 percent. A year ago, the rate was 5.68 percent.
(Click here to see a breakdown of average mortgage rates by U.S. region.)
Robert Van Order, chief economist for Freddie Mac, said worry over the Federal Reserve's next move had caused volatility in the mortgage market in recent weeks, but said he expects steadier rates ahead.
"By now, most analysts feel that the Fed will make a small move at its next meeting. The expected small increase has been factored into the market, which means interest rates should remain at or near their present levels for the foreseeable future," he said. 
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