Friday Rate Update

Mortgage Rates Little Changed as Home Sales Improve

The rate for a 30-year fixed-rate mortgage averaged 4.02 percent this week, up from last week’s 4 percent, Freddie Mac said yesterday. At this time last year, the 30-year FRM rate averaged 4.14 percent. This week’s 15-year FRM rate averaged 3.21 percent, down from last week’s 3.23 percent rate. A year ago, the 15-year FRM rate averaged 3.22 percent--ABA Daily Newsbytes