Mortgage rates hold steady

30-year fixed-rate mortgage averages 3.49% for the week ending Feb. 20, up slightly from 3.47% in the previous week and 4.35% at this time a year ago, according to the Freddie Mac Primary Mortgage Market Survey.

“The low mortgage rate environment continues to spur homebuying activity, with applications to purchase a home up 15% from a year ago,” said Freddie Chief Economist Sam Khater.

15-year FRM averages 2.99% vs. 2.97% in prior week and 3.78% at this time a year ago.