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4.87%: Mortgage Rates Hold Steady

  • April 7th 2011

by UrbanTurf Staff

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4.87%: Mortgage Rates Hold Steady: Figure 1

Long-term mortgage rates held steady this week as Freddie Mac reported 4.87 percent as the average on a 30-year fixed rate mortgage this morning, up from 4.86 percent last week. One year ago, long-term rates were at 5.21 percent.

Freddie Mac vice president and chief economist Frank Nothaft on this week’s rates:

“Mortgage rates were little changed after an encouraging employment report from the Bureau of Labor Statistics. The economy added 216,000 jobs in March and the unemployment rate fell for the fifth consecutive month to 8.8 percent marking the lowest rate in two years.”

Here’s a look at the path of mortgage rates since last January:

4.87%: Mortgage Rates Hold Steady: Figure 2

See other articles related to: freddie mac, interest rates, mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/4.87_mortgage_rates_hold_steady/3292.

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