Summary Box: Fixed mortgage rates hold steady

AP News
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Posted: Jun 30, 2011 12:40 PM
Summary Box: Fixed mortgage rates hold steady

RATES UNCHANGED: The average rate on the 30-year fixed mortgage rose slightly to 4.51 percent, Freddie Mac said. The 15-year fixed mortgage, a popular refinancing option, stayed at 3.69 percent.

NEAR LOWS: Fixed loans hit their low points for the year earlier this month. Rates typically track the yield on the 10-year Treasury note, which has been rising in the past week.

QE2 ENDING: Mortgage rates could rise this summer. The Federal Reserve's $600 billion bond-buying program ends this week. The bond purchases lowered the yield on Treasury notes below 3 percent this spring.