WASHINGTON – Long-term mortgage rates were unchanged this week at record lows, according to Freddie Mac.
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The average for the benchmark 30-year, fixed-rate loan held at 3.66%; while the average for the 15-year mortgage ticked down to 2.94%, from 2.95% last week.
“Mortgage rates were virtually unchanged this week, hovering at or near record lows and should further help to support a recovering housing market,” said Frank Nothaft, chief economist for Freddie Mac.
ARM rates also held near record lows, with the average for the five-year ARM inching up to 2.79%, from 2.77% last week; and the average for the one-year ARM unchanged at 2.74%.
