Rates on 30-year mortgages at low for year

WASHINGTON — Rates on 30-year mortgages remained at the lowest level since mid-December as investors waited for more concrete information on the direction of the economy.

Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week, unchanged from last week.

For the past two weeks, 30-year mortgages have been at the lowest level since they averaged 6.13 percent the week of Dec. 21.

Other mortgage rates showed only small movements this week. Analysts said investors were waiting for more data to get a firmer fix on where the economy was headed, given mixed signals in recent reports.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, edged up slightly this week to 5.88 percent, compared to 5.86 percent last week.

Five-year adjustable rate mortgages were unchanged at 5.90 percent, the same as last week.

One-year ARMs dipped to 5.42 percent, down from 5.47 percent last week.