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.