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Average US 30-Year Mortgage Rate At 4.23 Pct.

Existing Home Sales Rise 6.5 Percent In July
Photo by Scott Olson/Getty Images

WASHINGTON (AP) — Average U.S. rates on fixed mortgages were little changed this week, staying near their lowest levels in three months.

Mortgage buyer Freddie Mac says the average rate on the 30-year loan edged up to 4.23 percent from 4.22 percent last week. The average on the 15-year fixed loan rose to 3.31 percent from 3.29 percent.

Both are the lowest averages since July.

Mortgage rates began falling last month after the Federal Reserve held off slowing its $85-billion-a-month in bond purchases. The bond buys are intended to keep longer-term interest rates low, including mortgage rates.

Longer-term rates have also stayed low because of the government shutdown and a lack of government data.

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Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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