30-, 15-year mortgage rates remain flat

WASHINGTON — U.S. long-term mortgage rates held steady this week for the second-straight week, sticking at their lowest levels in nine months after six weeks of decline.

Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed mortgage was unchanged from last week at 4.45 percent. Rates remain above last year’s levels, however. The key 30-year rate averaged 4.15 percent a year ago.

The average this week for 15-year, fixed-rate loans held at 3.88 percent.

The decline in home borrowing rates in recent months has been motivated some prospective buyers.

The easing of rates came during steep declines in the stock market and tumbling interest rates on the 10-year U.S. Treasury note — which influences long-term mortgage rates. The decline in rates could help boost home sales, which stumbled last year as higher borrowing costs eroded affordability.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week.

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 this week at 0.4 point. The fee on 15-year mortgages also held steady at 0.4 point.

The average rate for five-year adjustable-rate mortgages rose to 3.90 percent from 3.87 percent last week. The fee was stable at 0.3 point.