30-Year Mortgage Rates Hold Steady
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The average rate on 30-year, fixed-rate mortgages was 5.58% this week, unchanged from a week ago. The rate is the lowest since the week ended July 11, when the average was 5.52%, Freddie Mac reported.
For 15-year fixed-rate mortgages, rates rose to 4.89% this week up from 4.87% last week. Rates for one-year adjustable mortgages decreased to 3.5%, compared with 3.53% last week.
A year ago, rates on 30-year mortgages averaged 5.79%, 15-year mortgages were 5.14% and one-year adjustable mortgages stood at 3.83%.
The nationwide averages for mortgage rates do not include add-on fees known as points.
Each loan type carried an average fee of 0.7 point this week.
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