WASHINGTON – The average rate for a 30-year home loan was unchanged this week at 3.87%, the lowest level since long-term mortgages began in the 1950s, according to Freddie Mac.
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The average for the 15-year, fixed-rate loan also was unchanged at 3.16%.
“Fixed mortgage rates were unchanged this week amid mixed confidence measures,” said Frank Nothaft, chief economist for Freddie Mac.
ARM rates also remained near record lows, with the average for the five-year ARM inching down to 2.82%, from 2.83% last week; and the average for the one-year ARM rising slightly to 2.84%, from 2.78%.
