WASHINGTON (AP) — U.S. long-term mortgage rates held steady this week amid mixed signs in the housing market. Rates remain at historically low levels as a lure to prospective homebuyers. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage was unchanged from the previous week at 3.68%. By contrast, the benchmark rate stood at 4.75% a year ago.
The average rate on a 15-year mortgage ticked down to 3.14% this week from 3.15% last week.
A government report issued this week showed that spending on U.S. construction projects fell 0.8% in October, dragged down by declines in apartment and multi-family homebuilding. But spending on single-family home construction increased 1.6%, helping offset some of the losses elsewhere in the private construction category.
Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.