Home Loan Interest Rates Are Holding Steady

Rates have mostly stayed flat the past three weeks, offering buyers a pause to steadily rising rates.

“Rates are at about the same level at which they started the year and have stayed within a two basis point range over the past three weeks. Mixed economic releases such as Friday’s jobs report and uncertainty about the Administration’s fiscal policies have contributed to the holding pattern in rates.” says Sean Becketti, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for the week ending Feb. 9:

  • 30-year fixed-rate mortgages: averaged 4.17 percent, with an average 0.4 point, dropping from last week’s 4.19 percent average. Last year at this time, 30-year rates averaged 3.65 percent.
  • 15-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.4 point, falling from last week’s 3.41 percent average. A year ago, 15-year rates averaged 2.95 percent.

Source: Freddie Mac