Mortgage rates were relatively unchanged this week as the markets wait for the results of the upcoming Federal Reserve policy committee meeting.

Adjustable-rate mortgages (ARMs) were more strongly affected by the latest Federal Reserve rate hike this week. However, mortgage rates continue to be extremely affordable and the outlook for the housing sector appears bright.

Feeling more comfortable about the upcoming economic rebound, the financial markets relaxed a bit this week. With the market more settled this week, interest rates on fixed-rate mortgages eased this [week] to the lowest rate in five weeks.

Mortgage rates this week are at seven-month lows and teetering on the 45-year low levels of last summer,

Markets remained tame while waiting for Federal Reserve Board Chairman Alan Greenspan's semi-annual testimony to House members about the state of the economy.

Markets remained tame while waiting for Federal Reserve Board Chairman Alan Greenspan's semi-annual testimony to House members about the state of the economy,