US Fixed-Rate Mortgages Continue to Decline in the Week Ending August 29th
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Mortgage Rates Continue to Drop
Mortgage Rates Continue to Drop
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, August 29th.
The 30-year fixed-rate mortgage averaged 6.35%, down from last week when it averaged 6.46%. A year ago at this time, the 30-year rate averaged 7.18%.
The 15-year fixed-rate mortgage averaged 5.51%, down from last week when it averaged 5.62%. A year ago at this time, the 15-year rate averaged 6.55%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates fell again this week due to expectations of a Fed rate cut. Rates are expected to continue their decline and while potential homebuyers are watching closely, a rebound in purchase activity remains elusive until we see further declines.”
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