The rate for a 30-year fixed-rate mortgage averaged 7.02% this week, down from last week when it averaged 7.09%. A year ago, the 30-year rate was 6.39%. The rate for a 15-year fixed-rate mortgage averaged 6.28%, down from last week when it averaged 6.38%. A year ago, the rate was 5.75%.
Home builder confidence declines in February
Builder confidence in the market for single-family homes in February was 42, down from 47 the previous month, according to the NAHB/Wells Fargo Housing Market Index.