MCLEAN, Va.--The 30-year fixed-rate mortgage remained stable this past week, averaging 6.11%, Freddie Mac reported.
“For the last several weeks, the 30-year fixed-rate mortgage has remained at its lowest level in years,” said Sam Khater, Freddie Mac’s chief economist. “The combination of improving affordability and availability of homes to purchase is a positive sign for buyers and sellers heading into the spring home sales season.”
The 30-year FRM averaged 6.11% as of Feb. 5, up slightly from last week when it averaged 6.10%. A year ago at this time, the 30-year FRM averaged 6.89%. The 15-year FRM averaged 5.50%, up slightly from last week when it averaged 5.49%. A year ago at this time, the 15-year FRM averaged 6.05%, Freddie Mac said.