Mortgage rates saw little change this week as investors await news from the Federal Open Markets Committee (FOMC) about a possible third round of quantitative easing.[IMAGE]
According to Freddie Mac's ""Primary Mortgage Market Survey"":http://www.freddiemac.com/pmms/, the 30-year fixed-rate mortgage (FRM) averaged 3.55 percent (0.6 point) for the week ending September 13, no different from the week before and only slightly above its all-time low achieved earlier in the summer.
The 15-year FRM averaged 2.85 percent (0.6 point), slightly down from 2.86 percent in the previous survey.[COLUMN_BREAK]
The 30-year fixed average has stayed below 4.00 percent all but once this year, while the 15-year fixed average has been below 3.00 percent since the last week of May, Freddie Mac reported.
The 1-year adjustable-rate mortgage (ARM) also stayed the same this week, averaging 2.61 percent (0.4 point). The 5-year ARM average slid down to 2.72 percent (0.6) from 2.75 percent a week ago.
The results of ""Bankrate's"":http://www.bankrate.com/ weekly survey were a bit more mixed. The 30-year fixed averaged 3.81 percent, inching up from 3.79 percent previously. The average 15-year FRM did not change.
At the same time, the 5/1 ARM slid back, averaging 2.75 percent (from 2.76 percent the week before).
""Mortgage rates were little changed over the week as a better than expected report on the services sector offset a lousy employment report,"" Bankrate said in a release. ""But the weak jobs picture did increase the likelihood of further Fed stimulus, such as purchases of mortage-backed bonds that would drive mortgage rates down further.""
Fed chairman Ben Bernanke is expected to hold a press conference Thursday afternoon to announce the outcome of FOMC's policy meeting.