Mortgage Rates Slightly Increase

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%.