Freddie Mac’s results of its Primary Mortgage Market Survey® shows that “Mortgage rates continued the summer swoon due to weaker economic data. While economic growth is clearly slowing due to rising manufacturing and trade headwinds, economic fundamentals are still solid for U.S. consumers. The unemployment rate is low, housing affordability is improving, homebuyer demand is rising, and home price growth is stable.”
- 30-year fixed-rate mortgage (FRM) averaged 3.49 percent with an average 0.5 points for the week ending September 5, 2019, down from last week when it averaged 3.58 percent. A year ago, at this time, the 30-year FRM averaged 4.54 percent.
- 15-year FRM this week averaged 3.00 percent with an average 0.6 points, down from last week when it averaged 3.06 percent. A year ago, at this time, the 15-year FRM averaged 3.99 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.30 percent this week with an average 0.4 points, down from last week when it averaged 3.31 percent. A year ago, at this time, the 5-year ARM averaged 3.93 percent.