Recent figures indicate that the economy may be rebounding, and at the same time Americans looking to get a home loan are hearing good news as mortgage rates appear to be remaining fairly stable.

Last week Freddie Mac reported that the average rate for a 30-year fixed-rate mortgage inched up 0.2 percentage points to 5.14 percent or the week ending August 27. While this is up from the lows of below 5 percent seen early this year, Freddie Mac notes that it is significantly below the 6.40 percent seen last year at this time.

A slight increase in 15-year fixed-rate mortgages was also seen as the average rate increased to 4.58 from 4.56 the previous week.

Frank Nothaft, vice president and chief economist for Freddie Mac, said while the rates have increased from earlier this year, they still remain “historically low” and are helping to drive the housing market.

Americans appear to be taking advantage of these low rates as figures last week from the Mortgage Bankers Association indicate that mortgage applications rose for the second straight week.

The package agreed upon by Democratic and Republican members of the House would allow government-sponsored Fannie Mae and Freddie Mac to buy mortgages at least 50 percent more expensive than the current $417,000 limit. The Senate and White House still must sign off on the proposed stimulus plan, which also includes tax rebates for Americans.

House Speaker Nancy Pelosi and Republican Leader John Boehner of Ohio announced the deal in a press conference Thursday.

The higher cap of $625,000, to apply for one year, would breathe life into housing markets in New York, California and other pricey areas because lenders would feel more comfortable knowing Fannie and Freddie can buy and package the loans into securities that investors consider to be relatively safe.

A Freddie Mac spokesman said in an e-mail message that such an increase “would be in the best interest of the market and consumers.”

To address the mortgage crisis, the package also raises limits on Federal Housing Administration loans, which are insured by the government in event of default, congressional aides said.

Groups representing Realtors, bankers and home builders, which have been hit hard by the mortgage market downturn, have been lobbying for such changes for months.

The National Association of Realtors has been pushing for a permanent expansion of the Fannie and Freddie limits to $625,000. It calculates that borrowers could save $3,000 to $5,000 per year in reduced interest costs as a result and projects up to 210,000 foreclosures could be prevented since refinancing into lower-rate loans would be easier.

Dale Stinton, the group’s chief executive, said in a statement Thursday that increasing the loan limits “is a truly meaningful economic stimulus and should be enacted quickly.”