Fifteen-Year Mortgage Hits a Record Low
WASHINGTON--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.</br></br>The 30-year fixed-rate mortgage average rose slightly to 4.79% for the week ended Thursday, according to Freddie's weekly survey.</br></br>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%.</br></br>"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.</br></br>"As a result," he said, "mortgage rates held at historic levels this week."