Mortgage rates hold steady above decades’ low

Posted: September 7th, 2011 by Just Real Seattle

WASHINGTON — Fixed mortgages were mostly flat this week after hitting their lowest levels in decades.

The average rate on the 30-year fixed mortgage stayed at 4.22 percent for the second straight week, Freddie Mac said Thursday. The rate hit 4.15 percent two weeks ago, the lowest level on records dating to 1971.

The average rate on the 15-year fixed mortgage, a popular refinancing option, fell to 3.39 percent from 3.44 percent. Two weeks ago, it reached 3.36 — the lowest rate on records dating to 1991 and likely the lowest ever, according to economists.

Source: AP Associated Press

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