Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Although this week’s decline was slight, the 30-year fixed-rate mortgage trended down to its lowest level in two years. Given the downward trajectory of rates, refinance activity continues to pick up, creating opportunities for many homeowners to trim their monthly mortgage payment. Meanwhile, many looking to purchase a home are playing the waiting game to see if rates decrease further as additional economic data is released over the next several weeks."
• 30-year fixed-rate mortgage (FRM) averaged 6.08 percent for the week ending September 26, 2024, down from last month when it averaged 6.35 percent. A year ago, at this time, the 30-year FRM averaged 7.31 percent.
• 15-year FRM this week averaged 5.16 percent, down from last month when it averaged 5.51 percent. A year ago, at this time, the 15-year FRM averaged 6.72 percent.
