J Studios
Long-term mortgage rates were unchanged from last week, and while home sales have been lackluster, refinancing activities gained traction, according to the Freddie Mac Primary Mortgage Survey.
30-year fixed-rate mortgages averaged 6.35% as of Sep. 5, unchanged from last week and lower than 7.12% in the year-ago week.
15-year fixed-rate mortgages averaged 5.47%, down from 5.51% last week and 6.52% a year ago.
“Mortgage rates remained flat this week as markets await the release of the highly anticipated August jobs report,” said Sam Khater, Freddie Mac’s chief economist.
“Even though rates have come down over the summer, home sales have been lackluster. On the refinance side however, homeowners who bought in recent years are taking advantage of declining mortgage rates in order to lower their monthly payments,” added Khater.
