U.S. 30-year fixed-rate mortgage (FRM) averaged 6.35% as of September 5, 2024, unchanged from last week. A year ago at this time, the 30-year FRM averaged 7.12%, according to Freddie Mac.
The 15-year FRM averaged 5.47%, down from last week when it averaged 5.51%. A year ago at this time, the 15-year FRM averaged 6.52%.
“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.”
