Mortgage Rates Up A Bit For A Week

Mortgage rates ticked up slightly for the week but remained near historic lows, Freddie Mac announced Thursday in its Primary Mortgage Market Survey.

  • The 30-year fixed-rate mortgage averaged 2.90 percent with an average 0.8 point for the week ending September 24, up from last week’s 2.87 percent and last year’s 3.64 percent.
  • The 15-year fixed-rate mortgage averaged 2.40 percent with an average 0.7 point, up from last week’s 2.35 percent and last year’s 3.16 percent.
  • The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90 percent with an average 0.2 point, down from last week’s 2.96 percent and last year’s 3.38 percent.

“Mortgage rates set several record lows over the last few months and have remained low into September,” said Sam Khater, Freddie Mac’s Chief Economist. “While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing.”