Freddie Mac

Mortgage Rates Dip

Week ending Sept. 5

Freddie Mac reports the following national averages with mortgage rates for the week ending September 5:

30-year fixed-rate mortgages

• Averaged 3.49%, with an average 0.5 point
• Down 0.09% from last week’s 3.58% average
• One year ago, the 30-year rate average was 4.54%

15-year fixed-rate mortgages

• Averaged 3.00%, with an average 0.6 point
• 0.06% less than last week’s 3.06% average
• This week in 2018, 15-year fixed averaged 3.99%

5-year hybrid adjustable-rate mortgages

• Averaged 3.30%, with an average 0.4 point
• Down 0.01% from a 3.31% average last week
• Last year at this time, 5-year ARMs were 3.93% on average

“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.”

— Sam Khater; Chief Economist, Freddie Mac

Source: Freddie Mac