Best Mortgage Rates Refuse To Budge

Many people feared that mortgages would become much more expensive when the Federal Reserve stopped buying mortgage-backed securities this spring.

But the Fed dropped out of the market March 31, and so far, mortgage rates remained near historic lows.

Our latest survey of the best rates available in 10 major cities found lenders offering 30-year, fixed-rate loans for less than 5% in all but one.

That’s unchanged from March, and nearly as good as last November, when average mortgage rates reached all-time lows and the best rate was below 5% in every city.

READ THE ENTIRE POST INCLUDING CITY-BY-CITY RESULTS.