According to Freddie Mac’s Primary Mortgage Market Survey, rates on 30-year fixed mortgages remained unchanged from the previous week at 4.50% and averaged 0.8 points. Rates have continued to hold relatively steady for quite awhile now, as last year at this time the 30-year fixed rate averaged 4.69%. The 15-year fixed rate mortgage average edged up to 3.69% from 3.67%, but still remains much lower than a year ago when it averaged 4.13%. With the housing market still soft and mixed forecasts from experts, it remains crucial to have lower rates to generate lending activity from those looking to purchase.
