US 30-year mortgage rates rise slightly this week

WASHINGTON, June 26 (Reuters) - U.S. 30-year mortgage rates were nearly unchanged this week, according to a survey released on Thursday by home funding company Freddie Mac.

U.S. 30-year mortgage rates inched higher to an average of 6.45 percent from 6.42 percent last week, and 15-year mortgages rose to an average of 6.04 percent from 6.02 percent.

One-year adjustable rate mortgages, or ARMs, climbed to an average of 5.27 percent from 5.19 percent.

Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 5.99 percent, up from 5.89 percent a week earlier.

A year ago, 30-year mortgage rates averaged 6.67 percent, 15-year mortgages 6.34 percent and the one-year ARM 5.65 percent. The 5/1 ARM averaged 6.30 percent.

"Fixed-rate mortgage rates held relatively stable this week leading up to the June 24-25 Federal Reserve (Fed) Policy Committee meeting," Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.

"ARM rates, which are typically tied to short-term instruments, rose slightly due to market uncertainty over how the Fed might respond," he added.

Ultimately, the Federal Reserve held the benchmark overnight fed funds rate at 2 percent on Wednesday.

Lenders charged an average of 0.6 percent in fees and points on 30-year and 15-year mortgages, both down from 0.7 percent last week.

Fees and points on the one-year ARM were unchanged from the previous week at an average of 0.6 percent.

Charges on the 5/1 ARM rose to an average of 0.7 percent 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 Leslie Adler)