Rate Update: Mortgage Rates Hold Steady

According to Freddie Mac's weekly mortgage rate survey the avergage rates around the US have remained relatively constant over the past two weeks. 30 year rates increased just slightly to 4.81%(0.8 in points and fees), up just 0.01% from 4.80% (0.7 in points and fees) the week of 1/27. 15 year home loan pricing dropped by the same amount, falling from 3.70% to 3.69% (both with 0.7 in points and fees). 5 year adjustable rate mortgage rates didn't move, with an average rate of 3.26% (0.6 in points and fees) for both weeks.

It's important to remember that mortgage rates can change at any time. If you've been considering a refinance run the numbers with a mortgage calculator to see if it makes sense for you at today's mortgage rates. If rates were to drop dramatically in the future you can generally refinance a second time, but if home loan pricing rises there won't be a way to access today's low rates.