Freddie Mac reports flat 30-year rate

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Interest rates on 30-year fixed-rate mortgages remained flat this week, according to Freddie Mac, at 4.96 percent. This figure is up just .01 percent over the previous week and .02 percent over the same week a year earlier. Frank Nothaft, vice president and chief economist with Freddie Mac, said today that the residential market nationwide is slowly finding its footing. “With house prices starting to stabilize and even rise, homeowners on aggregate are slowly building back equity in their homes based on figures from the Federal Reserve Board,” Nothaft said. Freddie Mac also announced today the formation of Structured Pass-Through Certificates, a type of multi-family mortgage-backed securities intended to “provide liquidity, stability and affordability to the nations multi-family housing market,” a statement said. The securities are likely to price on March 25 and settle on April 6. TRD