Amid Turmoil, Little Change in US Mortgage Rates

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Average mortgage rates in the U.S. were mostly unchanged for the week amid the federal debt deadlock, according to Freddie Mac. 

The average 30-year fixed-rate mortgage stands at 4.23 percent, a slight increase from 4.22 percent last week, when rates dropped for a third consecutive week. At this time last year, the average 30-year fixed-rate mortgage was 3.39 percent. 

Lending markets were hindered by a light week of economic data releases.

"Of the few releases, the private sector added an estimated 166,000 jobs in September, which were fewer than the market consensus and followed a downward revision of 17,000 workers in August, according to the ADP Research Institute," Frank Nothaft, vice president and chief economist, Freddie Mac, said in the release. "The Institute for Supply Management reported a greater slowing in growth in the non-manufacturing industry in September than the market consensus forecast." 

The average 15-year fixed-rate mortgage was 3.31 percent, up from 3.29 percent and higher than the 2.70 average last year. 

The one-year treasury-indexed ARM was 2.64 percent, a minimal increase from 2.63 percent last week.