U.S. 30-year mortgage rates unchanged in latest week

WASHINGTON, Aug 7 (Reuters) - U.S. 30-year mortgage rates were unchanged in the latest week while 15-year mortgages rose slightly, according to a survey released on Thursday by home funding company Freddie Mac.

U.S. 30-year mortgage rates held steady in the week at an average of 6.52 percent, while 15-year mortgages inched upward to an average of 6.10 percent from 6.07 percent last week.

One-year adjustable rate mortgages, or ARMs, fell in the week to an average of 5.22 percent from 5.27 percent last week.

Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 6.05 percent compared with 6.07 percent a week earlier.

A year ago, 30-year mortgage rates averaged 6.59 percent, 15-year mortgages 6.25 percent and the one-year ARM 5.65 percent. The 5/1 ARM averaged 6.33 percent.

"The housing market is continuing to act as a drag on the economy," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.

He noted last week's Commerce Department report on U.S. second-quarter gross domestic product that said residential fixed investment had fallen for 10 straight quarters.

Lenders charged an average of 0.7 percent in fees and points on 30-year mortgages, unchanged from last week. They also charged 0.7 percent on 15-year mortgages, up from 0.6 percent last week.

Fees and points averaged 0.6 percent on the one-year and 5/1 ARMs, both unchanged from last 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 Melissa Bland; Editing by Leslie Adler)