Fixed Mortgage Rates Little Changed, ARMs Lower

Fixed mortgage rates were virtually unchanged while ARM rates fell, according to Freddie Mac's latest Mortgage Rate Survey. 

The GSE's Chief Economist Frank Nothaft attributed the results to the reports on continued inflation. "Although the gross domestic product grew at a faster rate in the first quarter than originally reported, consumer spending rose only 1 percent, representing the smallest increase since the 2001 recession," Nothaft said.