MicroStockHub
Mortgage rates dropped to their lowest level since February 2023, according to the latest Freddie Mac Primary Mortgage Survey.
The 30-year fixed-rate mortgages averaged 6.20% as of September 12, down from last week when it averaged 6.35% and 7.18% in the year-ago period.
The 15-year fixed-rate mortgages averaged 5.27%, down from last week when it averaged 5.47%. A year ago at this time, the 15-year fixed-rate mortgages averaged 6.51%.
“Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” said Freddie Mac’s Chief Economist Sam Khater.
“Rates continue to soften due to incoming economic data that is more sedate. But despite the improving mortgage rate environment, prospective buyers remain on the sidelines, as they negotiate a combination of high house prices and persistent supply shortages.”
