US Average Mortgage Rates Steady; 30-Year Stays at 4.45 Pct.

WASHINGTON (AP) — U.S. long-term mortgage rates held steady this week, after falling for six straight weeks to reach their lowest levels in nine months.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage was unchanged from last week at 4.45 percent.

Rates remain far above last year's levels, however. The key 30-year rate averaged 4.04 percent a year ago.

The average rate for 15-year fixed-rate loans edged down to 3.88 percent from 3.89 percent last week.

The decline in home borrowing rates in recent weeks has been a spur to prospective homebuyers.

Source: AP