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Mortgage rates stay flat


Key long-term rates remained unchanged for the third consecutive week, Freddie Mac reported.

As of Thursday, the 30-year fixed rate averaged 4.45 percent, unchanged from the prior week. The 15-year fixed rate averaged 3.88 percent, also unchanged. Five year adjustable-rate mortgages ticked up three basis points to 3.9 percent.

A year ago, the 30-year fixed rate averaged 4.15 percent.

“Mortgage rates have stabilized during the last month and are essentially at the same level as last spring – yet the most recent home sales are roughly half a million lower over the same period.” Freddie Mac’s Chief Economist Sam Khater said.

“Given that the economy remains on solid footing and weekly mortgage purchase application activity has been strong so far in 2019, we expect the decline in home sales to moderate or even reverse over the next couple of months,” Khater said. 


 

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