Fixed mortgage rates were mostly unchanged this week, hovering near their annual lows, The Associated Press reports.
The average rate on the 30-year loan rose slightly to 4.51 percent, Freddie Mac said Thursday. It hit its lowest level of the year three weeks ago, at 4.49 percent.
The average rate on the 15-year fixed mortgage, a popular refinancing option, stayed at 3.69 percent. It reached its low point of the year two weeks ago, at 3.67 percent.
Rates typically track the yield on the 10-year Treasury note, which has been rising in the past week.
That could change this week when the Federal Reserve’s $600 billion bond buying program ends.
The Fed has purchased around $75 billion worth of bonds each month since November. That drove the yield on the 10-year Treasury note lower than 3 percent this spring. As a result, rates on mortgages and other loans also fell.
