“While the economy continues to grow, it has lost momentum over the last two months due to the current wave of new COVID cases that has led to weaker employment, lower spending and declining consumer confidence,” said
News Facts
- 30-year fixed-rate mortgage averaged 2.88 percent with an average 0.7 point for the week ending
September 9, 2021 , up slightly from last week when it averaged 2.87 percent. A year ago at this time, the 30-year FRM averaged 2.86 percent. - 15-year fixed-rate mortgage averaged 2.19 percent with an average 0.6 point, up slightly from last week when it averaged 2.18 percent. A year ago at this time, the 15-year FRM averaged 2.37 percent.
- 5-year
Treasury -indexed hybrid adjustable-rate mortgage (ARM) averaged 2.42 percent with an average 0.3 point, down slightly from last week when it averaged 2.43 percent. A year ago at this time, the 5-year ARM averaged 3.11 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
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A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe4442f5-f5e5-41ec-967b-23a6cd7dec2a
Primary Mortgage Market Survey®
U.S. weekly average mortgage rates as of September 9, 2021 .
2021 GlobeNewswire, Inc., source