Mortgage Rates Still Near Record Lows

Freddie Mac said mortgage rates were unchanged this week, while another rate survey set new record lows.

The Freddie Mac weekly survey put the average for a 30-year fixed-rate mortgage at 4.37% with an average 0.7 point for the week ending Sept. 23, stable from last week’s slight increase. A year ago, the average rate was 5.04%.

Freddie said the 15-year FRM average also remain unchanged this week at 3.82% with an average 0.7 point — below last year’s average rate of 4.46%.

The weekly Bankrate survey of large banks and thrifts shows the average 30-year FRM at 4.5% with a 0.35 point, setting a new low in the 25-year-old survey and below 5.36% a year ago. The 15-year FRM was 3.96% with a 0.35 point, down from 4% last week and also at a record low. The 30-year, jumbo FRM averaged 5.17% last week with a 0.35 point, down from 5.19% last week.

*Source: Housing Wire: Mortgage surveys vary slightly, but weekly rates still at or near record lows