The 30-year fixed-rate mortgage averaged 6.71% as of Sept. 3, up from last week when it averaged 6.66% and its highest level in over a year.
According to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC), the 30-year fixed-rate mortgage averaged 6.50% last year at this time.
The 15-year fixed-rate mortgage averaged 6.04%, up from last week when it averaged 5.98%. A year ago at this time, it averaged 5.60%.
Sam Khater, Freddie Mac’s chief economist, did not acknowledge the rate jump but instead declared, “Purchase demand has remained relatively stable indicating steady interest from buyers adapting to evolving market conditions.”
Also declining to acknowledge the rate level was Bill Pulte, the Freddie Mac chairman and director of the Federal Housing Finance Agency. Instead, Pulte used his personal X account to highlight Freddie Mac’s second quarter earnings results.
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