30-year mortgage rates unchanged in latest week

WASHINGTON (Reuters) - 30-year mortgage rates were unchanged in the latest week while 15-year mortgages fell slightly, according to a survey released on Thursday by home funding company Freddie Mac.

U.S. 30-year mortgage rates remained at an average of 6.52 percent for the third consecutive week, while 15-year mortgages dropped to an average of 6.07 percent from 6.10 percent last week.

One-year adjustable rate mortgages, or ARMs, fell in the week to an average of 5.18 percent from 5.22 percent last week.

Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 6.02 percent compared with 6.05 percent a week earlier.

A year ago, 30-year mortgage rates averaged 6.62 percent, 15-year mortgages 6.30 percent and the one-year ARM 5.67 percent. The 5/1 ARM averaged 6.35 percent.

"Mortgage rates held relatively steady for the second week in a row amid offsetting economic data releases," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. "For instance, consumer credit grew by $14 billion in June, more than twice the market consensus, but retail sales were weaker in July."

Lenders charged an average of 0.7 percent in fees and points on 30-year and 15-year mortgages, unchanged from last week.

Fees and points averaged 0.6 percent on the 5/1 ARM, also unchanged from last week. The one-year ARM averaged 0.5 percent in fees and points, down from 0.6 percent the prior week.

Freddie Mac is a mortgage finance company chartered by Congress that buys mortgages from lenders and packages them into securities to sell to investors or to hold in its own portfolio.

(Reporting by Ayesha Rascoe; Editing by Tom Hals)