Mortgage Rates Barely Move in the U.S.

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Mortgage rates in the U.S. barely shifted this week, amid of week of light economic reports, according to Freddie Mac. 

The 30-year fixed-rate mortgage averaged 4.51 percent this week, dropping slightly from 4.53 percent last week. Last year at this time the average was 3.40 percent. 

"Of the few [economic reports], the private sector added an estimated 238,000 jobs in December, which exceeded the market consensus and followed an upward revision of 14,000 jobs in November, according to the ADP Research Institute," Frank Nothaft, chief economist, Freddie Mac, said in the report. "Also, the Institute for Supply Management reported a greater slowing in growth in the non-manufacturing industry in December than the market consensus forecast."

Yesterday the Mortgage Bankers Association reported an increase in mortgage applications during the New Year holiday week. 

The average for the 15-year fixed-rate mortgage was 3.56 percent, up from 3.55 percent last week, Freddie Mac reports. Last year it was 2.66 percent. 

The one-year treasury-indexed ARM averaged 2.56 percent this week, unchanged from last week.