Low inflation steadies mortgage rates

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Average mortgage rates stayed near record lows this week, according to Freddie Mac’s weekly survey.

The average 30-year, fixed-rate mortgage rose 0.1 percentage point this week to 4.24 percent. Last year at this time, the average rate was 4.98 percent.

The 15-year, fixed-rate mortgage fell 0.3 percentage points to 3.63 percent. A year ago, the average mortgage was 4.4 percent.

The 5-year, Treasury-indexed, adjustable-rate mortgage was down 0.2 percentage point this week, reaching a record low of 3.39 percent. Freddie Mac began tracking this mortgage in 2005.

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