Mortgage Rates Remained Flat This Week

MCLEAN, Va., Sept. 05, 2024 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.35 percent.

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“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.”

News Facts

• The 30-year FRM averaged 6.35 percent as of September 5, 2024, unchanged from last week. A year ago at this time, the 30-year FRM averaged 7.12 percent.
• The 15-year FRM averaged 5.47 percent, down from last week when it averaged 5.51 percent. A year ago at this time, the 15-year FRM averaged 6.52 percent.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Angela Waugaman
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[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62f90cd2-5751-4de0-801b-aabbc3ab60cb

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