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Mortgage rates stick at lows

Mortgage rates were largely unchanged at near lows for the year, Freddie Mac reported.

Through Wednesday, the 30-year fixed rate averaged 3.59 percent, which was up one basis point from the previous week. A year ago, the rate averaged 3.65 percent, Freddie Mac reported. Fifteen-year fixed rate and 5-year adjustable rate mortgages declined marginally.

"Volatility in financial markets subsided over the past week, allowing Treasury yields to stabilize,” Fannie’s Chief Economist Sean Becketti said in a news release.

Becketti noted that the National Association of Realtors reported on Wednesday that existing sales rose 5.1 percent in March compared to February, suggesting that homebuyers are taking advantage of the low rates. 


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