Mortgage Rates Inch Down Slightly
Fixed mortgage rates for most home loans fell slightly this week to remain near historic lows. The average interest rate on a 30-year fixed mortgage dipped to 4.13% from 4.15% last week, according to the latest survey from mortgage buyer Freddie Mac. It was at 4.37% a year ago.
Meanwhile, the average rate on a 15-year fixed loan dropped to 3.23% from 3.24% last week. At this time last year it averaged 3.41%
"Mortgage rates were little changed amid a week of light economic reports," said Frank E. Nothaft, Freddie Mac vice president and chief economist.
Looking ahead, most analysts predict rates will hold steady in the short term.
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