Fixed mortgage rates steady near 4 percent

Diane Alter – AHN News Reporter

NYC, NY, United States (AHN) – The rate for the 30 year fixed mortgage rate remained near 4 percent for the third consecutive week, according to Freddie Mac’s weekly survey.

Mortgage rates in general were little changed.

The 30-year fixed rate mortgage rate averaged 4 percent or the week ending Nov. 17, up slightly from 3.99 from the previous week, and below the 4.39 percent recorded a year earlier.

Rates on the 15 year fixed rate mortgages averaged 3.31 percent, up from 3.3 percent a week ago, and below the 3.67 percent recorded a year ago.

While the ailing housing market is showing some signs of life, mortgage rates are expected to stay low for an extended period.

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