Mortgage Rates Remain Flat

Mortgage rates remained flat in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.35% as of Sept. 5, unchanged from last week. A year ago at this time, it averaged 7.12%.

The 15-year fixed-rate mortgage averaged 5.47%, down from last week when it averaged 5.51%. A year ago at this time, it 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.”