Mortgage rate steady at 3.53%

WASHINGTON – The average U.S. rate on the 30-year fixed mortgage was unchanged this week near historic lows, while the average rate on the 15-year loan fell.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan stayed at 3.53 percent. That’s still near the 3.31 percent rate reached in November, the lowest in records dating to 1971.

The rate on the 15-year fixed mortgage dropped to 2.77 percent from 2.81 percent last week. The record low is 2.63 percent.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for 30-year loans ticked up to 0.8 point from 0.7 point last week. The fee for 15-year loans was unchanged at 0.7 point.

The average rate on a one-year adjustable-rate mortgage fell to 2.53 percent from 2.59 percent. The fee for one-year adjustable-rate loans declined to 0.4 from 0.5 point.

The average rate on a five-year adjustable-rate mortgage fell to 2.63 percent from 2.70 percent last week. The fee remained at 0.6 point.