Mortgage Rates Remain Flat, Lingering Above Seven Percent
MCLEAN, Va., Sept. 21, 2023 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.19 percent.
“Mortgage rates continue to linger above seven percent as the Federal Reserve paused their interest rate hikes,” said Sam Khater, Freddie Mac’s Chief Economist. “Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect. Builder sentiment declined for the first time in several months and construction levels have dipped to a three-year low, which could have an impact on the already low housing supply.”
News Facts
- averaged 7.19 percent as of September 21, 2023, up from last week when it averaged 7.18 percent. A year ago at this time, the 30-year FRM averaged 6.29 percent.
- averaged 6.54 percent, up from last week when it averaged 6.51 percent. A year ago at this time, the 15-year FRM averaged 5.44 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 .
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: | | | | | |
MEDIA CONTACT:
Mollie Laniado
(571)382-1784
A photo accompanying this announcement is available at
