Great news for Roanoke, Va. homebuyers, move up buyers or people wanting to refinance.
Home-mortgage rates were little changed last week, holding steady for the most part at or near recent lows, including a record for the 15-year fixed-rate loan, Freddie Mac said.
The 30-year fixed-rate mortgage average rose slightly to 4.79% for the week ended Thursday, according to Freddie's weekly survey.
In the prior week, the average rate was 4.78%, the lowest since December. The year-ago average for the 30-year home loan stood at 5.29%.
"The economy grew at a slower rate than originally reported in the first three months of the year ... which suggests inflation will remain tame in the near term," said Freddie Mac chief economist Frank Nothaft, referring to revised data on U.S. gross domestic product.
"As a result," he said, "mortgage rates held at historic levels this week."
Rates on 15-year fixed-rate mortgages averaged 4.2%, the lowest level since Freddie Mac began tracking the mortgage in 1991, down from 4.21% in the prior week.
One-year Treasury-indexed adjustable-rate mortgages averaged 3.95%, unchanged from the prior week and the lowest level since May 2004. The one-year ARM averaged 4.81% a year ago.
The five-year Treasury-indexed ARM averaged 3.94%, down from 3.97% in the prior week and 4.85% a year ago.
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