WASHINGTON — U.S. long-term mortgage rates held steady last week, offering a potential boon to homebuyers amid an uncertain economic outlook.
Mortgage rates are near historic lows, though average rates for the key 30-year loan showed volatile swings last month.
Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year, fixed-rate mortgage edged up to 3.65% from 3.64% the previous week. A year ago, the average rate stood at 4.71%.
The average rate for 15-year, fixed-rate home loans slipped last week to 3.14% from 3.16% the previous week.
Freddie Mac surveys lenders across the country between Monday and Wednesday each week to compile its mortgage rate figures.
The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates.
The average fee on 30-year fixed-rate mortgages was unchanged last week at 0.6 point.
The average fee for the 15-year mortgage also held steady, at 0.5 point.
The average rate for five-year adjustable-rate mortgages was unchanged from the week ending Sept. 28 at 3.38%. The fee remained at 0.4 point.