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Mortgage rates are in holding pattern. Not tool late to refinance. Contact our mortgage broker in San Ramon.

Mortgage rates update from mortgage broker San Ramon

Mortgage Rates Are Mostly in a Holding Pattern

Mortgage rates continue to defy expectations, with the 30-year fixed-rate mortgage rate barely budging for the fourth consecutive week.

Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 23:

  • 30-year fixed-rate mortgages: averaged 4.16 percent, with an average 0.5 point, rising from last week’s 4.15 percent average. Last year at this time, 30-year rates averaged 3.62 percent.
  • 15-year fixed-rate mortgages: averaged 3.37 percent, with an average 0.5 point, increasing slightly from last week’s 3.35 percent. A year ago, 15-year rates averaged 2.93 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.16 percent, with an average 0.4 point, dropping from last week’s 3.18 percent average. A year ago, 5-year ARMs averaged 2.79 percent.

Contact our San Ramon mortgage broker for more information about mortgage refinance or new home loans.