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Mortgage rates remain steady over week

Average mortgage rates remained steady over the week, Charlotte-based LendingTree says.

On Wednesday, average home loan rates offered by LendingTree network lenders were 5.02 percent for 30-year fixed-rate mortgages, 4.15 percent for 15-year fixed-rate mortgages and 3.63 percent for 5/1 adjustable-rate mortgages.

On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.5 percent for a 30-year fixed-rate mortgage, 3.75 percent for a 15-year fixed-rate mortgage and 3 percent for a 5/1 ARM.

“Declines in existing and new home sales announced this week indicate that the housing market is still in intensive care,” Cameron Findlay, LendingTree chief economist, said. “Low mortgage rates are offering some relief, but home sales volume, home prices and unemployment are a continued drag on housing’s recovery. The latest data on average loan-to-value ratio by state and percent of homeowners with negative equity highlights the concern that there is no panacea to the economy’s ailments.”

As of Wednesday, the lowest mortgage rate available in North Carolina by those on the LendingTree network was 4.5 percent for a 30-year fixed-rate loan.

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