Rates for 30-year home loans have inched up, but they remained below 5 percent for the third straight week as government efforts to aid the housing market continued to keep rates low.
The average rate on a 30-year fixed mortgage was 4.92 percent this week, up from 4.87 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates, while above the record low of 4.78 percent hit in the spring, are still attractive for people looking to buy a home or refinance.
The average rate on a 15-year fixed-rate mortgage rose to 4.37 percent, from 4.33 percent last week, according to Freddie Mac.
Rates on five-year, adjustable-rate mortgages averaged 4.38 percent, up from 4.35 percent a week earlier. Rates on one-year, adjustable-rate mortgages inched up to 4.6 percent from 4.53 percent.
The …
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