Mortgage rates hold steady again
Mixed economic data keeps 30-year fixed-rate mortgage rates unchanged. Shorter-term rates fall slightly.
| 30 yr fixed | 3.80% |
| 15 yr fixed | 3.20% |
| 5/1 ARM | 3.84% |
| 30 yr refi | 3.82% |
| 15 yr refi | 3.20% |
NEW YORK (CNNMoney.com) -- Rates on 30-year mortgages remained unchanged for the second consecutive week as this week brought a mixed bag of economic readings.
Government-sponsored mortgage finance giant Freddie Mac (FRE, Fortune 500) reported Thursday that 30-year fixed-rate mortgages averaged 6.52% this week. That's the same level as the previous two weeks but below the 6.62% average a year ago.
"Mortgage rates held relatively steady for the second week in a row amid offsetting economic data releases," Freddie Mac chief economist Frank Nothaft said in a statement.
Nothaft noted that consumer credit grew by $14 billion in June, more than twice the market consensus, but retail sales were weaker in July.
News out of the housing market was also mixed this week. Pending existing home sales unexpectedly rose in June, according to the National Association of Realtors. But the Federal Reserve reported that commercial banks had tightened lending standards in July.
Nothaft said the rise in home sales signaled a possible increase in home sales in July and August, but he called the tightened lending standards "an action that may dampen further home sales activity going forward."
Other mortgage rates slipped this week, according to the Freddie Mac survey.
Rates on 15-year fixed-rate mortgages fell to 6.07%, down from 6.10% last week. Last year, the 15-year mortgage averaged 6.3%
The five-year adjustable-rate mortgage declined to 6.02%, down from 6.05% last week. At this point last year, it averaged 6.35%.
The rate on one-year adjustable-rate mortgages fell to 5.18%, compared to 5.22% last week. At this time last year, the 1-year ARM averaged 5.67%. 
