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Mortgage rates remain stable


Mortgage rates remained largely unchanged for the week, with the key rate hovering around 4 percent, Freddie Mac said.

The 30-year fixed rate rose to 4.02 percent, up two basis points. A year ago, the rate averaged 4.14 percent. Other rates declined marginally. 

"Mortgage rates were little changed this week,” said Sean Becketti, Freddie’s chief economist, in a news release. “Buyers appear anxious to purchase homes before the expected increase in interest rates later this year. Given the tight inventory of homes for sale, a 5.1-month supply at the current sales pace, home prices are being bid up."


 

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