30-Year Mortgage Rates Hold, Others Mixed

According to experts - financial markets during the first week of the year were still trying to determine how much the economy is likely to slowdown. For the second consecutive week, Freddie Mac reported 30-year fixed loans averaged 6.18 percent.

However, other rates remained mixed. Interest on 15-year, fixed mortgages rose slightly to 5.94 percent, rates on five-year adjustable-rate mortgages moved up to 6.02 percent, and one-year ARMs slipped to 5.42 percent.

Frank Nothaft, Freddie Mac chief economist, recently said "Currently, the market is waiting for a clearer signal on the direction in which the economy is headed.” Rates on 30-year loans declined over much of the second half of 2006 as the housing market continued to falter.

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