Mortgage buyer
The average rate on a 15-year mortgage slipped to 3.16% from 3.19%.
More positive economic data and improved housing-market sentiment have brought stability in mortgage rates,
Volatile interest rates earlier last year caused a slowdown in the housing market, Khater noted. Low mortgage rates and a strong job market are “setting the stage for a continued rise in home sales and home prices," he said.
The average fee on 30-year fixed-rate mortgages remained at 0.7 point this week. The average fee for the 15-year mortgage also held at 0.7 point.
The average rate for a five-year adjustable-rate mortgage rose to 3.46% from 3.45% last week. The fee was unchanged at 0.3 point.
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