Mortgage rates have stayed much the same over the past week, hovering around an average of 4.98% according to an MSNBC report. Rates remain slightly higher than their record low of 4.71% from early December.

Rates are hovering around the 5% mark due to the Government’s plan to pump $1.25 trillion into the lagging housing and mortgage market. The current programs are scheduled to end on March 31 of this year.

Comments: