Average Mortgage Rates in U.S. Fall to 4.41 Percent

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Mortgage rates in the U.S. fell this week, following weak economic reports, according to Freddie Mac.

The 30-year fixed-rate mortgage averaged 4.41 percent this week, dropping from 4.51 percent last week. At this time last year it was 3.38 percent.

Last week, mortgage rates barely shift, after increasing at the beginning of the new year. 

"Mortgage rates drifted downward this week amid signs of a weakening economic recovery," Frank Nothaft, chief economist, Freddie Mac, said in the report. "The economy added 74,000 jobs in December, less than the market consensus forecast. Retail sales rose 0.2 percent in December, which was nearly half of November's 0.4 percent increase. Meanwhile, the unemployment rate fell to 6.7 percent which was the lowest since October 2008."

The 15-year fixed-rate mortgage average 3.45 percent this week, down from 3.56 percent last week. A year ago it was 2.66 percent. 

The one-year treasury-indexed ARM averaged 2.56 percent this week, unchanged from last week.