Mortgage Rates Are Staying Low

Fixed-rate mortgages were mostly in a holding pattern this week, keeping borrowing costs low for home buyers and refinancers.

Freddie Mac reports the following national averages for the week ending Oct. 6:

30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.5 point, unchanged from last week. A year ago, 30-year rates averaged 3.76 percent.

15-year fixed-rate mortgages: averaged 2.72 percent, with an average 0.5 point, also unchanged from last week’s average. Last year at this time, 15-year rates averaged 2.99 percent.

Source: Freddie Mac