Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.12 percent.
“For the fourth consecutive week, the 30-year fixed-rate mortgage hovered above seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “The economy remains buoyant, which is encouraging for consumers. Though while inflation has decelerated, firmer economic data have put upward pressure on mortgage rates which, in the face of affordability challenges, are straining potential homebuyers.”
News Facts
30-year fixed-rate mortgage averaged 7.12 percent as of September 7, 2023, down from last week when it averaged 7.18 percent. A year ago at this time, the 30-year FRM averaged 5.89 percent.
15-year fixed-rate mortgage averaged 6.52 percent, down from last week when it averaged 6.55 percent. A year ago at this time, the 15-year FRM averaged 5.16 percent.
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