Mortgage rates held the line in the week that ended Thursday, remaining at three-month lows, with the average 30-year fixed rate remaining just above 5%, according to Freddie Mac's weekly survey.
After yields on Treasuries rebounded from the multidecade lows they hit earlier this year, they have tapered off — taking mortgage rates along with them.
The Freddie survey results ended three straight weeks of declines in fixed mortgage rates.
The Federal Reserve, in a move aimed at keeping interest rates low for homebuyers through early next year, said this week it had decided to extend and gradually phase out its purchases of mortgage-backed securities.
Freddie said the 30-year fixed-rate mortgage averaged 5.04% for the week that ended Thursday, unchanged from last week's average and down from the year earlier's 6.09%.