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US Rate on 30-Year Mortgage Steady at 3.53 Percent

MORTGAGE DEDUCTIONS

By MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON (AP) — The average U.S. rate on the 30-year fixed mortgage was unchanged for a second week, remaining near historic lows. The average rate on the 15-year mortgage also stayed the same. Low mortgage rates are helping to strengthen the housing recovery.

Mortgage buyer Freddie Mac says that the rate on the 30-year low stayed at 3.53 percent. That’s near the 3.31 percent reached in November, which was the lowest on record going back to 1971.

The rate on the 15-year fixed mortgage stayed at 2.77 percent for a second week. The record low is 2.63 percent.

The one-year adjustable mortgage was the only rate to change this week. It averaged 2.61 percent, up from 2.53 percent last week.

Cheap mortgages are giving a boost to the slowly improving housing market.

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WGGB encourages readers to share their thoughts and engage in healthy dialogue about the issues. Comments containing personal attacks, profanity, offensive language or advertising will be removed. Please use the report comment function for any posts you feel should be reviewed. Thank you.
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