Mortgage-rate trends were mixed this week, Freddie Mac said, with lenders offering 30-year fixed-rate loans at an average 3.37%, up from 3.32% a week earlier.
The average for a 15-year fixed loan, a mortgage popular with borrowers refinancing their homes, edged down from 2.66% last week to 2.65%. The start rates for adjustable home loans also were mixed, Freddie Mac said in its latest survey of lenders.
Frank Nothaft, Freddie Mac’s vice president and chief economist, said rates are basically holding steady near their record lows amid a continuing trend of low inflation and a “thriving” home construction market.
The 12-month increase in the core consumer price index has remained between 1.9% and 2.1% for each of the last five months, Nothaft said, with home-builder confidence at the highest level since 2006.