Mortgage Rates Slightly Increase

Sep 24, 2020

Director of Events

Freddie Mac's Primary Mortgage Market Survey reported the 30-year fixed-rate mortgage averaged 2.90% for the week ending Sept. 24, up slightly from last week's average of 2.87%.

"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."

The 15-year fixed-rate mortgage averaged 2.40%, up from last week's average of 2.35% and the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90%, down from last week's average of 2.96%.

Freddie Mac Primary Mortgage Market Survey 09/24/2020

About the author

Navi Persaud

Director of Events

Navi Persaud is Director of Events at NMP.

Link copied

Published

Sep 24, 2020

People On The Move

Christensen, Andrus Added At CE Class Leader

Maximum Acceleration hires mortgage exec. as education director, adds banking manager

Brandon Christensen, a longtime mortgage broker and trainer, has been named Director of Education and National Instructor for Maximum Acceleration LLC, a leading NMLS-approved course provider for mortgage pre-license and continuing education. "Having Brandon join our amaz...

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...