US key mortgage rate steady at 4.55 percent


WASHINGTON (AP) — The key long-term U.S. mortgage rate held steady this week, providing a lure for potential homebuyers as the spring buying season goes forward.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages was 4.55 percent, unchanged from last week. The benchmark rate rose steadily for most of April, reaching its highest level in more than four years. By contrast, the rate averaged 4.05 percent a year ago.

The average rate on 15-year, fixed-rate loans declined slightly to 4.01 percent from 4.03 percent last week.

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