Mortgage rates held under the 5 percent threshold for the second straight week. Freddie Mac is a Mortgage Finance Company that trades on the “New York Stock Exchange” under the stock symbol “FRE”. For the Latest information regarding “FRE”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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For the second straight week, mortgage rates held under the 5 percent threshold, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.
The average rate on a 30-year fixed rate mortgage was 4.95 percent this week, down from 4.97 percent a week earlier, mortgage finance company Freddie Mac (NYSE:FRE) said.
The central bank's $1.25 trillion program to buy up mortgage securities issued by Freddie Mac and sibling company Fannie Mae is set to expire March 31. But the Fed has held the door open to extending the program if the economy weakens.
Some analysts argue that rates could rise once the Fed's program ends, hurting both the recovery in housing and the overall economy. But government officials are optimistic that the Fed will be able to end its program without a major disruption.
This week, the average rate on a 15-year fixed-rate mortgage was 4.32 percent, down from 4.33 percent last week, according to Freddie Mac.
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