The average 30-year and 15-year mortgage rates remain close to record lows, this according to the latest results of Freddie Mac’s Primary Mortgage Market Survey.
Last Sept. 6, Freddie Mac reported that the 30-year fixed-rate mortgage averaged at 3.55%, a decrease from last week’s average rate of 3.59%. Six weeks ago, the 30-year fixed-rate mortgage averaged at 3.49% — the lowest rate or record low since long-term mortgages started in the 1950s.
Meanwhile, the 15-year fixed-rate mortgage averaged last Thursday at 2.86%, unchanged from last week’s average rate. Six weeks ago the 15-year fixed-rate mortgage averaged at 2.80%, a record low.
The 30-year loan is popular among homebuyers; while the 15-year fixed mortgage is the favorite refinancing option.
Frank Nothaft, vice president and chief economist of Freddie Mac, said in a statement, “Mortgage rates were little changed over the holiday week amid mixed economic data releases.”
“Although consumer spending rose 0.4 percent in July, representing the largest gain in five months, the core price index was unchanged suggesting little threat of inflation,” the vice president and chief economist of Freddie Mac added.
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