30- year fixed rate edges higher

Los Angeles Times - - COMPANY TOWN -

Mort­gage rates are look­ing sta­ble amid an im­prov­ing hous­ing mar­ket, with Fred­die Mac’s latest sur­vey show­ing that lenders were of­fer­ing 30- year fixe­drate home loans this week at an av­er­age in­ter­est rate of 4.02%, up from 4% a week ago.

The av­er­age rate for a 15year fixed mort­gage slipped from 3.23% to 3.21%. The start rates for ad­justable mort­gages also fell slightly.

Although higher than re­cent lev­els — Fred­die’s weekly sur­vey showed the 30- year av­er­age at less than 3.6% at one point in Jan­uary — the rates are still very low by his­tor­i­cal stan­dards and lower than a year ago, when the 30- year loan av­er­aged 4.14%

Bor­row­ers would have paid an av­er­age of 0.7% of the loan bal­ance in up­front len­der fees and dis­count points to ob­tain the 30- year fixe­drate loan in the latest sur­vey.

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