WASHINGTON – Long-term mortgage rates held steady this week still near record lows, according to Freddie Mac.
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The average for the 30-year, fixed-rate inched up to 3.90% this week, from 3.88% last week; while the average for the 15-year mortgage rose slightly to 3.13%, from 3.11%.
"Fixed mortgage rates held relatively stable this week amid signs that inflation remains in check. Industrial production was flat in March, a reading below the market consensus forecast,” said Frank Nothaft, chief economist for Freddie Mac.
ARM rates were mixed, with the average for the five-year ARM dipping to 2.78%, from 2.85%; and the average for the one-year ARM rising to 2.81%, from 2.80% last week.
