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Mortgage rates tick downward

A week of few economic reports helped nudge down mortgage interest rates this week. The average rate on a 30-year, fixed-rate mortgage this week was back at its 2014 low of 4.12 percent, down from 4.14 percent last week and 4.40 percent in the same week a year ago, according to Freddie Mac's weekly survey. On a 15-year, fixed-rate mortgage, the average rate this week of 3.24 percent compared with 3.27 percent last week and 3.44 percent a year ago. (c)2014 Chicago Tribune Visit the Chicago Tribune at www.chicagotribune.com Distributed by MCT Information Services

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