Charlotte, N.C. - This week, mortgage rates held steady week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average home loan rates offered by lenders on the LendingTree network.

On March 8, average home loan rates offered by LendingTree network lenders were 5.08% (5.29% APR) for 30-year fixed mortgages, 4.29% (4.61% APR) for 15-year fixed mortgages and 3.83% (4.01% APR) for 5/1 adjustable rate mortgages (ARM). Rates for all loan types were on par with last week's averages.

On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.75 percent (4.89% APR) for a 30-year fixed mortgage, 3.875 percent (4.12% APR) for a 15-year fixed mortgage and 3.25 percent (3.30% APR) for a 5/1 ARM. Lowest rates for both 30-year and 15-year fixed mortgages were flat, while 5/1 ARM rates rose slightly.

"The spread differential in the price of new vs. existing homes has reached a historic high," said Cameron Findlay, LendingTree Chief Economist. "Based on the latest data published by the National Association of Realtors, the median price for an existing home is $158,800 – the lowest it's been since 2002. Compare that with the median price of new homes, $230,600, and it's clear that dollar-for-dollar existing homes are a value for home buyers."