The 30-year fixed mortgage rates held steady at 4.50% for the week ending June 23, according to Freddie Mac's weekly report. However, points increased to a 0.8 average from 0.7 previously. As a result, the no-point rate increased slightly to 4.70% from 4.68%.
Despite historically attractive levels, borrowers remain sensitive to mortgage rate levels as yesterday's mortgage application activity report from the Mortgage Bankers Association (MBA) proved. The MBA reported the Refinance Index declined 7.2% to 2676 on a slight increase in mortgage rates.