Mortgage Rates Stay Mostly Flat
WASHINGTON (AP) — U.S. long-term mortgage rates were flat to slightly higher this week after three straight weeks of declines, as the historically low levels continue as an incentive for potential homebuyers.
Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year fixed-rate mortgage edged up to 3.47% from 3.45% last week. The key rate stood at 4.37% a year ago.
The average rate on a 15-year mortgage was unchanged from last week at 2.97%.
Recent signs of strength in the U.S. economy have helped boost home sales, though a record-low inventory of houses on the market has caused prices to surge as affordability has worsened.