Mortgage rates move up slightly for the week ending September 23rd, according to the Freddie Mac weekly survey…(Freddie Mac)
- 30-YR FIXED: Moved up 2 basis points to an average of 2.88% which is slightly lower than the 2.90% average we saw at the same time last year.
- 15-YR FIXED: Moved up 3 basis points to an average of 2.15% which is down 25 basis points from the same time one year ago.
Sam Khater, Freddie Mac’s Chief Economist, said in a statement that instability in global financial markets means low rates domestically…
- “The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets…This has led to a rise in foreign investor purchases of U.S. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services.”