Interest rates for home loans have leveled off at a notch above their record lows, a Freddie Mac survey shows, with the 30-year fixed mortgage averaging 3.53% this week, the same as last week.
The survey of lenders, released Thursday, showed the 15-year fixed-rate mortgage averaging 2.77%, down from 2.81% a week ago. The start rates for adjustable mortgages also declined.
Freddie Mac asks lenders each week what terms they are offering to well-qualified borrowers. In the current survey the 30-year borrowers would have paid an average 0.8% of the loan amount in upfront lender fees and points, and 0.7% of the loan amount for the 15-year loan.
The typical rate for a 30-year fixed mortgage bottomed out last fall at 3.31%.
Prospective buyers and refinancers are well aware that the rates can’t stay near record lows forever, said mortgage broker George Duarte, president of Horizon Financial Associates in Fremont.