Rates on 30-year mortgages were essentially flat this week at to 6.11%, while 15-year rates inched up to 5.5%, reinforcing stable conditions for buyers and sellers.
WASHINGTON – The average long-term U.S. mortgage rate barely budged this week, staying close to 6% as the spring homebuying season nears.
The benchmark 30-year fixed rate mortgage rate edged up to 6.11%, essentially flat compared to last week when it was 6.1%, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.89%.
This is the latest increase since the average rate eased three weeks ago to 6.06%, its lowest level in more than three years.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also ticked up this week. That average rate inched up to 5.5% from 5.49% last week. A year ago, it was at 6.05%, Freddie Mac said.