Industries Banking/Finance

Mortgage rates remain steady

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The 30-year, fixed-rate mortgage held steady this week on mixed economic news, according to Freddie Mac’s weekly survey.

The 30-year rate was an average of 4.51 percent, compared to 4.5 percent last week, and 4.58 percent during the same week last year. The 15-year, fixed-rate mortgage held steady at 3.69 percent. Last year at this time, the average 15-year mortgage was 4.04 percent.

“First quarter economic growth was revised up in the final estimate, but growth in consumer spending stagnated in May while April’s figure was revised downward; consumer expenditures account for roughly two-thirds of the nation’s gross domestic product,”  Frank Nothaft, chief economist at Freddie Mac, said in a statement.


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