Rate on 30-year fixed mortgage hovers at 4%

The average rate on the 30-year fixed mortgage hovered above its record low for a fifth straight week.
Freddie Mac said Thursday the rate on the 30-year home loan rose slightly to 4 percent from 3.98 percent the week before. Eight weeks ago, it dropped to a record low of 3.94, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage was unchanged at 3.30 percent. Eight weeks ago, it too hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year.

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