Key interest rates remained unchanged last week at lows for the near, Freddie Mac reported.
Through Wednesday, the 30-year fixed rate averaged 3.78 percent for the second consecutive week. A year ago, the rate averaged 3.5 percent. The 15-year fixed rate was also unchanged at 3.08 percent, but the rate for five-year adjustable rate mortgages ticked down two basis points to 3.13 percent.
Mortgage rates fell despite a surge in Treasury yields.
“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week,” Freddie’s Chief Economist Sean Becketti said. “If Treasury yields continue to rise, mortgage rates could see an increase in next week’s survey.”