Thursday, April 5, 2012
The average U.S. rate on the 30-year fixed mortgage was mostly unchanged this week, as the cost of home-buying and refinancing stayed near record lows.
Mortgage buyer Freddie Mac says the rate on the 30-year loan fell slightly to 3.98 percent from 3.99 percent last week. In February, the rate touched 3.87 percent, the lowest since long-term mortgages began in the 1950s.
The average rate on the 15-year fixed mortgage also fell, to 3.21 percent from 3.23 percent. That's above the record low of 3.13 percent hit last month.
Mortgage rates have been below 4 percent for all but one week since early December. That's helped lift the outlook for housing after four sluggish years of home sales. Still, most economists expect only modest gains.